Bitcoin mining power consumption is exaggerated, study shows

According to Bitcoin Exchange Guide, on August 30, Node Blockchain published a research report showing that many articles currently exaggerate Bitcoin's energy consumption by at least one third. The report pointed out that "because the physical location of mining centers is not important to the Bitcoin network, miners flock to areas that generate surplus electricity at the lowest marginal cost. In the long run, this has the potential to produce a more efficient global energy market, with Bitcoin miners arbitraging electricity between global centers." In addition, PoW is an energy-intensive industry, but unlike data centers, gold mining and other industries, mining is highly efficient and increasingly environmentally friendly. For companies that want to join the Bitcoin mining industry, they must cut their energy expenses, otherwise they will be eliminated due to high prices.