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In Iceland, bitcoin mining will soon use more energy than its residents

“I could not have predicted this trend—but then bitcoin skyrocketed.”
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Mining bitcoin is not a task for your average Joe. As far back as 2014, researchers estimated that profitable bitcoin mining was out of the reach of commercial hardware. The increasing difficulty of solving the equations that yield ...

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Iceland will likely use more electricity in the next year to mine bitcoin than it uses to power every single home in the country. Bitcoin mining is booming in Iceland, and energy providers are worried they won't be able to power new...


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