Mining Rigs Fail To Validate Transactions

Unfavorable assessment of the electricity consumed by Bitcoin mining has been revealed by the founder of the Digiconomist, Alex de Trieste. The article mentions that the annual returns produced from Bitcoin mining are nearly $5.9 billion roughly 4 billion mining units competing for a share of the bounty worldwide. De Vries also claims that 98% of mining rigs will never verify a transaction that will lead to vast and unproductive electricity expenditure.

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