According to Katrina Kelly-Pitou, the popular debate on whether or not Bitcoin’s 00 network electricity consumption is causing serious damage to our climate is not headed in the right direction. Traditional banks consume more than three times more energy than bitcoin, according to Katrina Kelly-Pitou, a clean energy technology researcher at the University of Pittsburgh. The new blockchain is also being used in other industries. She also noted that banking uses an estimated 100 TW of power a year. If the bitcoin technology market matures by over 100 times its current size, it would still only account for 2% of all energy consumption, she added.
Traditional banks consume more than three times more energy than bitcoin, according to Katrina Kelly-Pitou, a clean energy technology researcher at the University of Pittsburgh. The new blockchain is also being used in other industries. She also noted that banking uses an estimated 100 TW of power a year. If the bitcoin technology market matures by over 100 times its current size, it would still only account for 2% of all energy consumption, she added.