How much energy does large scale crypto mining use?

What is happening? A large scale crypto mining facility in Iowa is located near a town of 2800. The crypto mining site’s 1,900 computers mines $17 per day. That’s $32,000 a day. The power bill is $5000 per day, 4.05 cents per kilowatt-hour.

Why is this important? The investors in this mining operation want to open 5 more in Iowa because of the affordable power. The cooperative’s electricity sales to large commercial and industrial customers more than doubled from 16.5 million kilowatt-hours in 2018 to 36.9 million kilowatt-hours in 2020.

How will this be important? last fall China stopped crypto mining which moved miners out into other countries, including the US.

Governing | Iowa Bitcoin Mining Facility Uses More Power Than Town Residents