this post was submitted on 20 May 2024
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For clarification. To my understanding, the older cryptographic currencies use an immense amount of power (Proof of Work). But newer models have solved that issue by switching to a Proof of Stake model instead.
You are correct, but that doesn't mean they all use the same model. Apparently in the USA, it's as much electricity as the entire state of Utah. Also apparently Texas is a big home for it:
Locations of 52 U.S. cryptocurrency mining operations, as of January 2024