Bitcoin’s energy consumption isn’t as bad as you think — Quartz

The word “bitcoin” is as likely to garner feverish excitement as it is glaring criticism. The financial community sees speculative promise in the form of trade that currently has little to no regulation. Meanwhile, others argue that it’s a distraction that detracts from the overall longevity of US financial institutions.

Bitcoin’s energy consumption has become a recent talking point in the debate. A Forbes article published May 30 indicates that bitcoin dramatically increases global energy consumption—and that electricity is its “Achilles heel.”

I am a researcher who studies clean energy technology, specifically the transition toward decarbonized energy systems. I think that the conversation around bitcoin and energy has been oversimplified.

New technologies—such as data centers, computers and before them trains, planes and automobiles—are often energy-intensive. Over time, all of these have become more efficient, a natural progression of any technology: Saving…