The Real-World Costs of the Digital Race for Bitcoin

Bitcoin mines cash in on electricity — by devouring it, selling it, even turning it off — and they cause immense pollution. In many cases, the public pays a price.

Highlights

• The New York Times has identified 34 large-scale Bitcoin mining operations in the U.S.
• It has found 34 such operations, all putting immense pressure on the power grid and most finding novel ways to profit from doing so.
• Bitcoin mines cash in on electricity — by devouring it, selling it, even turning it off — and they cause immense pollution.
• The Times puts the most comprehensive estimates to date on the largest operations’ power use and the ripple effects of their voracious demand.
• In many cases, the public pays a price, including higher electricity bills and enormous carbon pollution, for everyone around them, most of whom have nothing to do with Bitcoin.

---

Read the original article