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Apparently you need kilograms of electricity to mine bitcoin

Apparently you need kilograms of electricity to mine bitcoin



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8 Comments

  1. This is due to the Australian site “translating” a British news article.

    The UK article used ‘pounds’ as in pounds sterling either a human or a script has turned that into kilograms thinking it meant lbs (pounds)

  2. I mean, you can definitely talk about energy in terms of mass… but kilograms wouldn’t be the appropriate unit for the electricity used in bitcoin mining.

    If you look up the amount of energy used annually on bitcoin mining, divide it by the number of coins issued in the year, convert your units to joules and then run it through Einstein’s mass-energy equivalance you get something like 1/50th of a gram per bitcoin.

  3. I assume they mean to say Kilowatts.

    I’ve noticed ever since mainstream news went online, the quality of editing has fallen through the floor. Obviously some portals are better than others, but even on “better” sites such as BBC, you can find errors on a daily basis.

  4. tldr; Police in the UK’s West Midlands were shocked to find a bitcoin “mine” stealing thousands of kilograms of electricity during a suspected warehouse drug raid. The police initially thought they were about to bust a cannabis farm, but were met with the advanced tech scam instead. A single bitcoin is currently worth around £26,000 ($47,844). A probe revealed the electric supply had been bypassed to power the “mine”.{}

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

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