Bitcoin’s Price Surge Danced with Energy Consumption – 267

Bitcoin price and energy for Mining and Uh highly correlated this is something I've been talking about for many many Many many years and it's important to Understand this as we're moving into the Next having because this having is going To be Make It or Break It for a lot of Miners and it will purely depend on the Amount of cost in energy it takes to Produce a bitco coin every four years Bitcoin gets cut in half as far as their Emissions for the block reward we're Going from round six to round three Bitcoin here in this upcoming having in April and typically what we start to see Is a is a slow rise a slow like uptick In the Actual price of Bitcoin to compensate For this as miners need to sell the Bitcoin coin for a higher price now Because they're making less Bitcoin the Cost of energy is directly correlated to The price of a Bitcoin in the past will That continue we'll have to see a lot of Retail investors are completely unaware Of this still and that's why you end up Having this crazy Euphoria every four Years that basically retail investors Are like oh bitcoin's going up they all Dump in and fomo in and it shoots the Price to the moon and this happens Pretty much on a a schedule I talk about It in my crypto mining ecourse for more Details at sunate tech.com if you want

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To support me that way that's one way You can do it too now you know basically There's a un report the world's starting To catch on retail is going to catch on This time and it's going to get really Interesting un scientists evaluated the Activities of 76 Bitcoin mining Nations During the 202 20 to 2021 period and Found that the global Bitcoin mining Network consumed Activities of 76 Bitcoin mining Nations During the 2020 to 2021 period and found That the global Bitcoin mining Network Consumed 173.50 19,000 the UN report highlighted that Quote a 400% increase in bitcoin's price From 2021 to 2022 triggered a 140% Increase in the energy consumption of The worldwide Bitcoin mining Network at The time fossil energy sources accounted For 67% of the electricity generated for Bitcoin mining however crypto Entrepreneurs have taken proactive Measures to increase their dependence on Green energy and just to give you guys An idea 67% of electricity you know being Generated by traditional fossil energy Sources is quite low compared to other Industries just to give you an idea hydr Power satisfied over 16% of the total Electricity demand of the global Bitcoin Mining Network nuclear solar and wind

Energy sources provided 9% 2% and 5% Respectively however members of the Crypto Community called out the UN Report for referencing the Mora Al I Think I said that right 2018 paper which Had overestimated the carbon emission Levels of Bitcoin mining rigs by Including unprofitable mining rigs in Their Analysis and so Nick Carter criticized The UN report for citing completely fake Academia in their papers according to The UN report the top 10 Bitcoin mining Nations at the time where China United States kazakistan Kazakhstan I'll say it right Russia Malaysia Canada Germany Iran Iran Ireland and Singapore were responsible For 92 to 94% of the global carbon water And land footprint of Bitcoin the global Push for Greener Alternatives to fulfill The grid demand will also help reduce The carbon footprint of Bitcoin and the Crypto ecosystem recently Genesis Digital assets limited a mining and data Center company with over 400 megawatt of Power generation worldwide opened a new Data center in Sweden running 1900 Bitcoin mining machines driven by the Country's burgeoning renewable able Energy Surplus Christian Anders founder Of bt. CX told coin Telegraph that Bitcoin mining is not very common due to High energy price prices however he

Added Sweden Finland and Norway have a Surplus of energy in negative energy Prices from time to time and primarily Renewable energy in the form of Hydro Power in a remote location which is hard To distribute in parallel Bitcoin mining Equipment manufacturers continue to Deliver energy efficient Hardware at World digital mining Summit on September 22nd Bitcoin miners shared their plans To help decarbonize the crypto ecosystem They're talking about the new highly Efficient ant Miner s21s at 17 and 16 Jews per terahash depending on if it's Hydro or air Bitcoin or bit main roll Out it's efficiency focused ant minor S21 they go on to Say so what we are seeing is basically a Whole wrap up here of the mining Industry for Bitcoin and the cor Correlation of the cost of energy to the Price of Bitcoin and once again like I Stated coming up here soon we're going To have the having hit and we will go From six Bitcoins to three Bitcoins and The price of Bitcoin will have to adjust In tandem so we'll see basically the Rise of Bitcoin running up to it when we Look at the calculations I Yes mine are Getting a little outdated I do need to Go redo it because what we've had is a Drop in energy costs here recently Actually as opposed to an increase we're Starting to see even Texas Energy prices

Get back down uh I've heard of farms Going up in like Houston for example Where we're hitting 4 cents per kilowatt Hour just an example of something recent Uh whereas what we were Hearing in Houston for quite some time was 6 to S Cents per kilowatt hour so the price is Coming down on power but we are also Having the having happen so it will Start to balance out when I looked at This previously what we were looking at Was somewhere around 46 to $48,000 per Bitcoin to be minted post Having so my expectation is running up Into the having we would see Bitcoin Start to hit that 45 to 50,000 Market or Or or Price Market price to compensate For the actual reduction in rewards of Bitcoin and then of course the rest of The market will follow like we're Starting to see and we'll talk about That here in a second but we'll start to See the rest of that follow and then What you would expect is retail to get Bullish behind that and then send those Prices up within the next 6 to n months Into a eforia post having so this is Kind of what we're looking at and what I'm looking at when we're moving into it There is of course the debate between Purchasing older miners or purchasing Newer miners that are more efficient and That's going to be up to you in your Mining strategies right now Asic miners

Are extremely cheap they've gone down to A tenth of what they were in the Past thanks for watching this clip from The crypto mining show you can check out The full episode here and don't forget To subscribe down here as well you can Also check out my crypto mining e course At sonof tech.com where you can get a Free month of supporter status with a Purchase at sonof tech. locals.com also Don't forget to check out my merch Underneath the video or at shop.of Ach.com I'll see you next Tuesday

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