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Jul 14, 2017 integrated into a simplified blockchain mining proof of work algorithm based on Bitcoin. proof of work by to solving transaction simultaneity issues. . ℎ = 64. ℎ 3 = 64F = 262,144. Thus, 262,144 hashes or fewer are typically required to mine each block while testing this algorithm. However, the 

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Description, Value. Bitcoin's current estimated annual electricity consumption* (TWh), 44.28. Annualized global mining revenues, $10,198,363,864. Annualized estimated global mining costs, $2,213,779,803. Country closest to Bitcoin in terms of electricity consumption, Iraq. Estimated electricity used over the previous day