Bitcoin miners in the US are consuming the same amount of electricity as the entire state of Utah, among others, according to a new analysis by the US Energy Information Administration. And that’s considered the low end of the range of use.
Electricity usage from mining operations represents 0.6% to 2.3% of all the country’s demand in 2023, according to the report released Thursday. It is the first time EIA has shared an estimate. The mining activity has generated mounting concerns from policymakers and electric grid planners about straining the grid during periods of peak demand, energy costs and energy-related carbon dioxide emissions.
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