Bitcoin, Ether bounce back after days of decline

Bitcoin, Ether bounce back after days of decline

RIYADH: Bitcoin, the leading cryptocurrency in trading internationally, traded higher on Tuesday, rising by 6.28 percent to $46,868.50 at 6:17 p.m. Riyadh time while Ether traded at $3,372.72, up 5.72 percent, according to data from CoinDesk.



Energy usage

As bitcoin prices rise, more miners with less energy-efficient machines are joining the grid, leading to an increased energy usage worldwide.





New estimates suggest that the bitcoin network in 2021 will exceed its energy consumption compared to the last year, consuming 91 TWh of energy. In 2020, it consumed about 67 TWh of electricity.