By BBC World Service
Published March 16, 2021 4:00pm
It seems that the price of Bitcoin cannot stop increasing, but how sustainable is Bitcoin itself? With such huge energy demands to keep Bitcoin mined, are some countries risking the stability of their electricity supplies to take advantage of the Bitcoin boom? Financial economist and founder of the blog “Digiconomist”, Alex de Vries is on the show to answer these questions. He says, in his paper published in the journal Joule, that the entire Bitcoin blockchain network consumes as much energy per year as all data centres across the world.
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