Cambridge Bitcoin Electricity Consumption Index (CBECI) revised its methodology used in measuring Bitcoin's electricity consumption.
emerged as one of the most popular data portals tracking Bitcoin’s power demand and the associated environmental impact in real-time.
According to CBECI, the models prior to 2021 were deemed reliable. However, starting from 2021, the inconsistencies began to surface. The revised annual estimate was 89.0 terawatt-hours , 14% less than the earlier estimate of 104.0 TWh. The revised figures were comparable to the electricity consumption of countries like Belgium and Netherlands, and tumble dryers in the U.S.The discrepancies emerged due to inaccurate tapping of mining hardware-related data, CBECI admitted,
Over time, more efficient mining equipment has flooded the market, producing a higher hash rate per unit of electricity taken. As a result, a disproportionately large number of older devices in comparison to newer ones may dramatically alter the final power consumption figures.
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