ABSTRACT

Bitcoin, Blockchain, and the Energy Sector [August 9, 2019]   [open pdf - 1MB]

From the Document: "The popularity of cryptocurrencies such as Bitcoin and the underlying blockchain technology presents both challenges and opportunities to the energy sector. As interest in Bitcoin and other cryptocurrencies has increased, the energy demand to support cryptocurrency 'mining' activities has also increased. The increased energy demand--when localized--can exceed the available power capacity and increase customers' electricity rates. On the other hand, not all cryptocurrencies require energy-intensive mining operations. Some cryptocurrencies can operate under algorithms that require less energy. In addition, blockchain technologies could present opportunities for the energy sector by facilitating energy and financial transactions on a smart grid."

Report Number:
CRS Report for Congress, R45863
Author:
Publisher:
Date:
2019-08-09
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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