Bitcoin's energy consumption increased by 41 percent in a year

Earlier this year, the European Union rejected a proposal to ban cryptocurrency mining, but the EU's opinion may change.

Bitcoin mining consumes 0.16 percent of the world's energy, slightly less than the energy consumed by computer games, according to a report on mining, according to BMC. And that's a "negligible amount of the world's energy."

Bitcoin's energy consumption growth comes amid an 8.34% increase in the network's hash rate in Q3 2022 and a 73% increase from last year, despite a decrease in the number of blocks mined and downward price pressure.

Analyst company Glassnode believes that "the increase in hashrate is due to the emergence of more efficient mining equipment and/or the fact that miners with better balances have a larger share of hashrate in the network."

The tightening of regulation comes although the EU rejected a proposal in March that included a complete ban on cryptocurrency mining.

As for the United States, regulatory measures appear to lag behind similar measures in the EU.

In September, the White House Office of Science published a 46-page document examining the climate and energy impacts of crypto-assets. But the conclusions were mixed, and no severe plan has yet been developed.