In a current viral video, HBO speak present host Invoice Maher wholeheartedly broadcasted his perception that crypto mining consumes 8% of world electrical energy manufacturing. Sadly for Invoice, that’s fully unfaithful.
In truth, the actual determine is lower than 1%. Estimates vary from 90 to a most of 240 terawatt-hours (TWh) per yr, with most estimates for worldwide bitcoin mining in 2023 nearer to 121 TWh. Even the US Vitality Administration estimates someplace within the area of 120 TWh.
Though important, this determine isn’t even a single proportion level of world electrical energy consumption in 2023, which totaled over 27,000 TWh. Even utilizing the very best, 240 TWh determine, crypto mining’s electrical energy consumption would nonetheless be beneath 1%.
Maher broadcast the declare throughout nationwide tv and web streaming companies, together with in posts to his 10.8 million followers on X (previously twitter) and 938,000 on Instagram.
Viewers dunk on the speak present host
Feedback rained in — many laughing at Maher’s apparent error. “This has been debunked at length,” wrote Fil Hanson on Instagram. “This is embarrassingly wrong and reflective of your ignorance of the topic,” added Todd Leonardi. “Reiterating a talking point without any research into it,” lamented Matt Blumenberg.
On X, Bitcoiners tried to ratio Maher’s publish with feedback like “You’ve embarrassed yourself on live TV well done” and “This is embarrassing, even for you.”
Maher’s social media accounts, that are seemingly managed by an company, haven’t responded to any of the criticisms. Protos reached out to Maher for remark however hadn’t acquired a response previous to publication time.
A single crypto asset, bitcoin, consumes greater than 90% of all electrical energy manufacturing throughout all proof-of-work blockchains. That stated, even tripling or quadrupling the very best estimates of crypto’s electrical energy use wouldn’t get anyplace near Maher’s declare of 8%.
