Will Bitcoin's 41% YOY energy surge trigger Ethereum flippening?
Over the years, apart from Bitcoin’s [BTC] decentralized nature, regulators dismissed the asset on multiple occasions due to its energy consumption. However, miners soon began exploring sustainable ways of producing the world’s largest crypto. Despite these efforts, it was recently brought to light that BTC’s Year-on-Year [YoY] energy usage surged by 41 percent. According to a recent report by the Bitcoin Mining Council [BMC], BTC continued to consume a total of 0.16 percent of global energy production. Yet, its latest increase was highly frowned upon. The BMC curated data from the 51 largest Bitcoin mining companies across the globe. The latest data represented the king coin’ ;s energy consumption during Q3 2022. In addition to this, it should be noted that the Bitcoin mining industry has emerged as one of the most sustainable industries. The YoY efficiency of the network grew by 23 percent. This, however, did not seem to catch the eye of environment...