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Report: Sweden Needs Less Electricity Than Bitcoin Mining

Bitcoin mining continues to earn hate from environmentalists around the world, as the most recent calculations suggest the process requires more energy than the entire country of Sweden. Bitcoin Mining Gets More Expensive as the Price Expands A new report suggests that the higher the price goes, the more energy is needed to extract and mine new coins. Right now, bitcoin is traversing high $50,000 territory; it recently hit a new all-time high of approximately $61,000. It’s trading in the highest bracket we’ve ever witnessed, and while this is likely good news for investors all over the world, many environmentalists…

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