Austin Bunn, associate professor of performing and media arts and director of the Milstein Program, highlighted the dual nature of cryptocurrency's rise, noting that 'this digital innovation comes with real-world consequences'.
Bitcoin mining consumes a staggering 2.3% of all U.S. electrical demand, which is equivalent to the total electricity consumption of Argentina or six million American homes annually.
As Upstate New York becomes a premier location for mining, its electrical impacts are expected to increase significantly, potentially reaching 8% of U.S. electricity demand by 2030.
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