%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment The closely watched %Bitcoin (CRYPTO: $BTC ) Energy Consumption Index has edged lower after reaching an all-time high of 1,312.07 MWh per Bitcoin mined in early February of this year. The higher energy consumption is due to a growing number of Bitcoin miners trying to secure the digital asset. Large banks of computers are used to “mine” Bitcoin around the clock, solving complex mathematical equations and puzzles that are needed to mint new BTC. Those banks of computers consume a substantial amount of electricity, which has been one of the main criticisms of %Cryptocurrency mining, notably for Bitcoin. The Bitcoin Energy Consumption Index reflects the energy consumption per Bitcoin mined. It peaked at an all-time high earlier in February as interest in cryptocurrencies grows. Bitcoin mining has risen around the world in recent months as the price of the largest digital asset by market capitalization has risen. Countries that have seen spikes in Bitcoin mining include the U.S., Norway, Germany and Spain. However, while Bitcoin mining increases, efforts to curtail energy use have also increased, say analysts. Some miners are turning to renewable solar power to help power the banks of computers they use to produce new Bitcoins and other cryptocurrencies. Other miners are curtailing their activities during periods of peak electricity use and selling excess power back to electrical grids. These measures have helped bring down the amount of power used to mine Bitcoin, say analyst, although the trend to greater electricity use continues to move upwards.