Why Does Bitcoin Mining Consume Energy?
Bitcoin mining consumes a high amount of energy annually to keep the blockchain running. It typically consumes around 10 minutes to add new groups of verified transactions. A mining farm is designed to complete a specific task in a fast and efficient manner.
It’s energy consumption is variable depending on the size of the operation. Miners can operate at various scale from small-scale operations to large-scale industrial operations.
How the network consumes energy is often misunderstood. It is typically used to verify transactions and add new verified transactions to the network.
Compared to mining, sending a bitcoin transaction consumes less energy than adding new transactions to the network. When a transaction is sent, it will be verified by non-mining nodes before it is added to the network’s record.
Learn more about Titan and our Mining solutions.