Donald Trump: The United States could easily allocate more energy to Bitcoin mining.
According to the U.S. Energy Information Administration, the electricity consumption of cryptocurrencies ranges from 0.6% to 2.3%.
The mining industry reacts to electricity prices in real time. During peak energy consumption periods, mining activity decreases.
Bitcoin mining is a network-wide competition to generate a cryptographic solution that matches specific criteria. When a correct solution is reached, a reward in the form of bitcoin and fees for the work done is given to the miner(s) who reached the solution first.
BTC
66,019.99
-2.15%
XRP
1.3903
-5.42%
SOL
80.15
-3.35%