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Bitcoin consumes ‘more electricity than Argentina’

Bitcoin uses more electricity annually than the whole of Argentina, analysis by Cambridge University suggests.

“Mining” for the cryptocurrency is power-hungry, involving heavy computer calculations to verify transactions.

  • Cristina Criddle
  • BBC

Cambridge researchers say it consumes around 121.36 terawatt-hours (TWh) a year – and is unlikely to fall unless the value of the currency slumps.

Critics say electric-car firm Tesla’s decision to invest heavily in Bitcoin undermines its environmental image.

The currency’s value hit a record $48,000 (£34,820…

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