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production</h1></div></div><div class="time_date_block"><ul class="time_date"><li>Oct 19, 2022</li><li>08:10</li><li>2 min reading</li></ul><div class="author_block"><div class="author_image"><span style="box-sizing:border-box;display:inline-block;overflow:hidden;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0;position:relative;max-width:100%"><span style="box-sizing:border-box;display:block;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0;max-width:100%"><img style="display:block;max-width:100%;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0" alt="" aria-hidden="true" src="data:image/svg+xml,%3csvg%20xmlns=%27http://www.w3.org/2000/svg%27%20version=%271.1%27%20width=%2720%27%20height=%2720%27/%3e"/></span><img alt="Choise.com team" srcSet="/_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=32&q=75 1x, /_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=48&q=75 2x" src="/_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=48&q=75" decoding="async" data-nimg="intrinsic" style="position:absolute;top:0;left:0;bottom:0;right:0;box-sizing:border-box;padding:0;border:none;margin:auto;display:block;width:0;height:0;min-width:100%;max-width:100%;min-height:100%;max-height:100%"/></span></div><div class="author_name"><span class="dynamic_author"></span>Choise.com team</div></div></div><div class="content"><div class="main_image"><img title="Crypto Daily: BTC mining consumes only 0.16% of the world’s energy production" alt="Crypto Daily: BTC mining consumes only 0.16% of the world’s energy production" fetchpriority="high" width="742" height="0" decoding="async" data-nimg="1" class="directus_image " style="color:transparent" srcSet="/_next/image?url=https%3A%2F%2Fwebinar.choise.com%2Fwp%2F2022%2F10%2Fcrypto_daily_analysis_wed-2.png&w=750&q=75 1x, /_next/image?url=https%3A%2F%2Fwebinar.choise.com%2Fwp%2F2022%2F10%2Fcrypto_daily_analysis_wed-2.png&w=1920&q=75 2x" src="/_next/image?url=https%3A%2F%2Fwebinar.choise.com%2Fwp%2F2022%2F10%2Fcrypto_daily_analysis_wed-2.png&w=1920&q=75"/></div><div class="content_block"><p class="">In light of an ongoing debate over the impact that Bitcoin mining has on the environment, the Bitcoin Mining Council (BMC) has presented new facts that assert how negligible this effect is. Indeed, one of the conclusions of the BMC’s ‘Global Bitcoin Mining Data Review’ for Q32022 is that globalBTC mining consumes only 0.16% of the world’s energy production.</p><p class="">According to the BMC founder and former MicroStrategy CEO Michael Saylor: “Bitcoin uses an inconsequential amount of global energy. The number this quarter is 16 basis points (bps) of the world’s energy or 0.16%.”</p><p class="">Specifically, the total amount of energy utilized worldwide is 165,317 TWh, whereas BTC mining only uses 266 TWh of that energy. In Saylor’s words, one-third of the total global energy use is actually wasted energy, it is not possible to utilize it, with Bitcoin accounting for “just a small fraction” of this.</p><p class="">Comparing this energy use with that of other industries, the report also concluded that Bitcoin mining utilizes less energy than residential and non-residential buildings, construction, aviation, household appliances in the United States, as well as gold mining.</p><p><a href="https://crpt.onelink.me/WpQ0/m81giloc">Buy Bitcoin with zero fee for the first purchase</a> in Choise.com App. Trade, store, cashout, spend, send, and invest your crypto from a single dashboard with ultimate ease. <a href="https://crpt.onelink.me/WpQ0/9ttg63v3">Start now</a>!</p><h3>Bitcoin price analysis</h3><p>Bitcoin price made an attempt to gain paceabove the $19,500 resistance zone. BTC even spiked above the $19,600 level, but there was no follow through move.</p><p>The price formed a high near $19,696 and started a downside correction. There was a move below the $19,500 and $19,400 levels. Besides, there was a break below a key bullish trend line with support near $19,400 on the hourly chart of the BTC/USD pair.</p><p>Bitcoin price traded as low as $19,110 and is currently trading in a range. It is trading near $19,250 and the100 hourly simple moving average. There was a break above the 23.6% Fib retracement level of the recent decline from the $19,696 swing high to $19,110 low.</p><p><a href="https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14.png"><img loading="lazy" class="alignnone size-full wp-image-506921" src="https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14.png" sizes="(max-width: 1834px) 100vw, 1834px" srcSet="https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14.png 1834w, https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14-460x212.png 460w, https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14-860x396.png 860w, https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14-768x354.png 768w, https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14-1536x708.png 1536w, https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14-750x346.png 750w, https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14-1140x525.png 1140w" alt="Bitcoin Price" width="1834" height="845" data-pin-no-hover="true"/></a></p><pre>Source:<a href="https://www.tradingview.com/symbols/BTCUSD/" target="_blank" rel="noopener">BTCUSD on TradingView.com</a></pre><h3>Technicals</h3><p>Hourly MACD is losing pace in the bearish zone</p><p>Hourly RSI is below the 50 level</p><p>Support Levels – $19,100, $19,000</p><p>Resistance Levels – $19,400, $19,680, $20,000</p><p> </p><p>More real time crypto information — in our<b>Telegram Channel</b><a href="https://t.me/Choise_com_Chat">https://t.me/Choise_com_Chat</a></p></div></div><ul class="sc-a1b0f443-0 fTNNTN news_breadcrumbs"><li><a href="/news">News</a></li><li><a href="/news/dailyanalysis">Daily Analysis</a></li><li><span>Crypto Daily: BTC mining consumes only 0.16% of the world’s energy production</span></li></ul><div class="sc-ebb48054-0 hCkBCM"><button class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/twitter.svg" alt="Crypto Daily: BTC mining consumes only 0.16% of the world’s energy production"/></button><button class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/telegram.svg" alt="Crypto Daily: BTC mining consumes only 0.16% of the world’s energy production - Telegram"/></button><button class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/facebook.svg" alt="Crypto Daily: BTC mining consumes only 0.16% of the world’s energy production - Facebook"/></button></div></section></div></section></main><footer id="footer" class="sc-3dbed908-0 fGcfsC"><div style="max-width:1200px" class="sc-7bf978d5-0 jWSTwu center_block "><div class="top_block"><div class="content"><div class="description"><div class="description_information"><p>The website and mobile apps are owned by the company Choise Services UAB. 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production","date_created":"2022-10-19T07:23:38.000Z","image":null,"old_image":"https://webinar.choise.com/wp/2022/10/crypto_daily_analysis_wed-2.png","seo_image":null,"category":{"id":"82","title":"Daily Analysis","slug":"dailyanalysis","translations":[{"title":"Daily Analysis","seo_title":null,"seo_description":null,"seo_keywords":null}]},"translations":[{"title":"Crypto Daily: BTC mining consumes only 0.16% of the world’s energy production","content":"\u003cp class=\"\"\u003eIn light of an ongoing debate over the impact that Bitcoin mining has on the environment, the Bitcoin Mining Council (BMC) has presented new facts that assert how negligible this effect is. Indeed, one of the conclusions of the BMC’s ‘Global Bitcoin Mining Data Review’ for Q32022 is that globalBTC mining consumes only 0.16% of the world’s energy production.\u003c/p\u003e\u003cp class=\"\"\u003eAccording to the BMC founder and former MicroStrategy CEO Michael Saylor: “Bitcoin uses an inconsequential amount of global energy. The number this quarter is 16 basis points (bps) of the world’s energy or 0.16%.”\u003c/p\u003e\u003cp class=\"\"\u003eSpecifically, the total amount of energy utilized worldwide is 165,317 TWh, whereas BTC mining only uses 266 TWh of that energy. In Saylor’s words, one-third of the total global energy use is actually wasted energy, it is not possible to utilize it, with Bitcoin accounting for “just a small fraction” of this.\u003c/p\u003e\u003cp class=\"\"\u003eComparing this energy use with that of other industries, the report also concluded that Bitcoin mining utilizes less energy than residential and non-residential buildings, construction, aviation, household appliances in the United States, as well as gold mining.\u003c/p\u003e\u003cp\u003e\u003ca href=\"https://crpt.onelink.me/WpQ0/m81giloc\"\u003eBuy Bitcoin with zero fee for the first purchase\u003c/a\u003e in Choise.com App. Trade, store, cashout, spend, send, and invest your crypto from a single dashboard with ultimate ease. \u003ca href=\"https://crpt.onelink.me/WpQ0/9ttg63v3\"\u003eStart now\u003c/a\u003e!\u003c/p\u003e\u003ch3\u003eBitcoin price analysis\u003c/h3\u003e\u003cp\u003eBitcoin price made an attempt to gain paceabove the $19,500 resistance zone. BTC even spiked above the $19,600 level, but there was no follow through move.\u003c/p\u003e\u003cp\u003eThe price formed a high near $19,696 and started a downside correction. There was a move below the $19,500 and $19,400 levels. Besides, there was a break below a key bullish trend line with support near $19,400 on the hourly chart of the BTC/USD pair.\u003c/p\u003e\u003cp\u003eBitcoin price traded as low as $19,110 and is currently trading in a range. It is trading near $19,250 and the100 hourly simple moving average. There was a break above the 23.6% Fib retracement level of the recent decline from the $19,696 swing high to $19,110 low.\u003c/p\u003e\u003cp\u003e\u003ca href=\"https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14.png\"\u003e\u003cimg loading=\"lazy\" class=\"alignnone size-full wp-image-506921\" src=\"https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14.png\" sizes=\"(max-width: 1834px) 100vw, 1834px\" srcset=\"https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14.png 1834w, https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14-460x212.png 460w, https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14-860x396.png 860w, https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14-768x354.png 768w, https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14-1536x708.png 1536w, https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14-750x346.png 750w, https://www.newsbtc.com/wp-content/uploads/2022/10/Bitcoin-14-1140x525.png 1140w\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" data-pin-no-hover=\"true\" /\u003e\u003c/a\u003e\u003c/p\u003e\u003cpre\u003eSource:\u003ca href=\"https://www.tradingview.com/symbols/BTCUSD/\" target=\"_blank\" rel=\"noopener\"\u003eBTCUSD on TradingView.com\u003c/a\u003e\u003c/pre\u003e\u003ch3\u003eTechnicals\u003c/h3\u003e\u003cp\u003eHourly MACD is losing pace in the bearish zone\u003c/p\u003e\u003cp\u003eHourly RSI is below the 50 level\u003c/p\u003e\u003cp\u003eSupport Levels – $19,100, $19,000\u003c/p\u003e\u003cp\u003eResistance Levels – $19,400, $19,680, $20,000\u003c/p\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003cp\u003eMore real time crypto information — in our\u003cb\u003eTelegram Channel\u003c/b\u003e\u003ca href=\"https://t.me/Choise_com_Chat\"\u003ehttps://t.me/Choise_com_Chat\u003c/a\u003e\u003c/p\u003e","short_content":"According to Bitcoin Mining Council, BTC uses an inconsequential amount of global energy thus the impact on the environment is negligible.","seo_title":null,"seo_description":null,"seo_keywords":null}]}},"__N_SSP":true},"page":"/news/[category]/[slug]","query":{"category":"dailyanalysis","slug":"btc-mining-energy-production"},"buildId":"pnPclDEvF5ORCHIipmwih","isFallback":false,"isExperimentalCompile":false,"gssp":true,"locale":"en","locales":["en","es"],"defaultLocale":"en","scriptLoader":[]}</script></body></html>