Cryptocurrency Mining Power Consumption Is More Than A Country With 17 Million People
Cryptocurrency mining is at an all time high and there are loads of people around the world that are mining different digital currencies. This craze has achieved a new height and this is affecting people that want to buy GPUs for gaming as miners are buying all the GPUs they can get their hands on. Here we are going to talk about cryptocurrency mining power consumption.
Manufacturers want to keep up with the demand but they are afraid of pushing a product that will not sell. Everything has a shelf life and with Nvidia Volta and AMD Vega on the horizon GPU makers are afraid of producing older products that will not sell later on. With cryptocurrency mining at an all time high cryptocurrency mining power consumption is also at an all-time high.
Bitcoin and Ethereum are the highest mined currencies at the moment, these account for 14.54 TWh and 4.69 TWh of cryptocurrency mining power consumption. Ethereum cryptocurrency mining power consumption is equal to Moldova, which is the 120th most power-consuming country in the world. Bitcoin is at 81 on the same list.
Bitcoin stands between Mozambique and Turkmenistan, with the later having a population of 5.17 million. Both currencies combined use more power than Syria. AMD and Nvidia are releasing products that will cater to this market segment. Hopefully, this will counter the supply shortage caused by miners. Mining GPUs will have no display ports and will cost less.
Keeping that in mind if the market goes south then these GPUs will not be worth anything. The RX series GPUs aimed at mining do have display ports. But in the future, we will see GPUs without display port aimed at the mining market. This should be interesting.
Let us know what you think about the high level of cryptocurrency mining power consumption.