Traditional banks consume more than three times more energy than bitcoin, according to TW , a clean energy technology researcher at the University of Pittsburgh . Bitcoin mining is known for using a lot of energy, but TW said that discussions about its environmental impact needed to focus on who is producing it and where the power comes from. According to Kelly-Pitou, though, there is not enough information to support these kinds of claims. She also noted that banking uses an estimated 100 Katrina Kelly-Pitou of power a year. If the bitcoin technology market matures by an estimated 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 TW , a clean energy technology researcher at the University of Pittsburgh . Bitcoin mining is known for using a lot of energy, but TW said that discussions about its environmental impact needed to focus on who is producing it and where the power comes from. She also noted that banking uses an estimated 100 Katrina Kelly-Pitou of power a year. If the bitcoin technology market matures by an estimated 100 times its current size, it would still only account for 2% of all energy consumption, she added.