Did you know that Bitcoin mining, a way to create new Bitcoins, uses lots of energy? This is causing some problems! It's like having a giant supercomputer running all the time, needing tons of electricity.
This news is about how Bitcoin mining is impacting the environment and our electricity bills. It's not just about the coins themselves, but about the energy needed to create them.
- Bitcoin mining uses a lot of electricity, causing higher energy costs for everyone.
- It pollutes the air and water near mining sites.
- Some states are rethinking giving tax breaks to mining companies because of these problems.
- Mining companies sometimes get much cheaper electricity than regular people.
| State | Residential Electricity Cost (cents/kWh) | Miner Electricity Cost (cents/kWh) |
|---|---|---|
| Texas | 14.46 | 2.5 - 2.96 (Riot) |
| New York | 22.25 | 2 - 3 (various miners) |
| Georgia | 13.69 | 1.2 - 4.6 (CleanSpark) |
Experts predict that if Bitcoin mining keeps growing fast, electricity prices could go up by 30% or even 80% in some places!
