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katakowsj · 2254 days ago · link · · parent · post: In 2018, Iceland will use more electricity for mining cryptocurrency than it will to power its homes.
Good point. I wonder if using "consumes energy" limits the narrative. I searched and found: Today, 99 percent of Iceland's electricity is produced from renewable sources, 30 percent of which is geothermal (the rest is from dams—and there are a lot of them), according to Iceland's National Energy Authority.Oct 20, 2008 Which then leaves Iceland consuming 100-99 = 1% of their energy each year in the form of nonrenewable energy. It's much better than, say Venezuela, doing the same crypto mining while burning dinosaur bones only.