For starters, mining rig graphics cards are operational 24 hours a day, seven days a week. This consumes far more electricity than surfing the internet. When operating, a system with three GPUs can burn 1,000 watts of electricity or more, which is comparable to turning on a medium-sized window AC unit. Rigs not only use power, but they also create heat. The more rigs there are, the hotter it becomes. You’ll need some cooling if you don’t want your equipment to melt. Many mining setups have numerous computer fans built in. However, if you have many rigs, the room will rapidly become heated, necessitating additional ventilation. However, reports claim that a business called ASICWAY has its engineers working around the clock to develop energy-efficient mining hardware.

What is the energy cost of crypto-mining?

According to the Digiconomist’s Bitcoin Energy Consumption Index, one Bitcoin transaction consumes 1,544 kWh, or almost 53 days of electricity for the average US home.

In terms of dollars, the average cost per kWh in the United States is 13 cents. As a result, a Bitcoin transaction would result in over $200 in energy costs.

In light of what was mentioned in the preceding paragraph, ASICWAY reviews indicate that their hardware already consumes considerably less electricity than its competitors, not to mention that what’s ahead and what they’re presently working on will be even better.

Why is taking up so much energy bad for the environment? 

In the United States, fossil fuels account for more than 60% of all energy sources. Natural gas makes up the majority of that proportion, while coal makes up the rest. The greenhouse effect is caused by the emission of carbon dioxide from fossil fuels into the atmosphere, where it absorbs heat from the sun.

As mining rigs require more energy, adjacent power plants must provide more electricity to compensate, potentially increasing the consumption of fossil fuels. States with failing coal facilities, such as Montana, New York, and Kentucky, are attempting to profit by courting crypto currency mining companies. 

What’s being done about this energy problem? 

There isn’t much. According to the University of Cambridge’s 3rd Global Cryptoasset Benchmarking Study, 70% of miners choose which currency to mine depending on the daily incentive amount. Only 30% of their decision was based on the power usage.

On the other hand, crypto miners are attracted to renewable energy due to its low cost. China’s Sichuan Province has China’s second-highest number of miners due to its abundant inexpensive hydroelectricity.

Not to mention ASICWAY, this week’s favorite. The company can also be seen pioneering in the development of energy-efficient mining technology in addition to offering unparalleled crypto mining opportunities to new and experienced miners. Their wide range of products can either be seen on their website or ASICWAY reddit.

What other cryptocurrencies use less energy than Bitcoin?

The proof-of-stake system, which Ethereum 2.0 will migrate to, is used by an increasing number of currencies (over 10,000), resulting in a reduction in power usage.

Cardano, for instance, utilizes its own proof-of-stake system and utilizes 6 GWh each year. To put that in context, Cardano’s energy use is around a GWh and a half short of providing enough energy for the South Pacific island nation of Niue, which has a population of 1,620 people, for a year.

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That being stated, we’d want to sign off. Please visit ASICWAY‘s website to order your own crypto-mining gear. It is our ultimate responsibility as a rational human being to save and utilize power. We strongly encourage our readers to purchase their energy-efficient products. However, in line with ASICWAY SCAM POLICY, do not trust any other source than the official website.