Informed Crypto News
Bill Maher says crypto mining uses 8% of world’s electricity — he’s wrong
Headline, Bill Maher says crypto mining uses 8% of world's electricity. He's wrong, published at 709 p.m. September 25, 2024 on Protos.com. In a recent viral video, HBO talk show host Bill Maher wholeheartedly broadcasted his belief that crypto mining consumes 8% of world electricity production. Unfortunately for Bill, that's completely untrue. In fact, the real figure is less than 1%. Estimates range from 90 to a maximum of 240 terawatt-hours per year, with most estimates for worldwide Bitcoin mining in 2023 nearer to 121 terawatt-hours. Even the US Energy Administration estimates somewhere in the region of 120 terawatt-hours. Although significant, this figure isn't even a single percentage point of global electricity consumption in 2023, which totaled over 27,000 terawatt-hours. Even using the highest 240 terawatt-hours figure, crypto mining's electricity consumption would still be below 1%. Maher broadcasts the claim across national television and internet streaming services, putting in post to his 10.8 million followers on X, formerly Twitter, and 938,000 on Instagram. Subheading viewers dunk on the talk show host comments rained in, many laughing at Maher's obvious error. "This has been debunked at length," wrote Phil Hansen on Instagram. "This is embarrassingly wrong and reflective of your ignorance of the topic," added Todd Linardi, reiterating a talking point without any research into it, lamented Matt Blumenberg. On X, Bitcoiners attempted to ratio Maher's post with comments like, "You've embarrassed yourself on live TV well done," and "This is embarrassing even for you." Maher's social media accounts, which are likely controlled by an agency, have not responded to any of the criticisms. Protos reached out to Meyer for comment but hadn't received a response prior to publication time. A single crypto asset, Bitcoin, consumes more than 90 percent of all electricity production across all proof-of-work blockchains. That said, even tripling or quadrupling the highest estimates of crypto's electricity use wouldn't get anywhere close to Maher's claim of 8%. This recording was AI-generated. Get more crypto news at protos.com.