REAL Reason Electric Prices are Soaring!

Skyrocketing electric bills are hitting consumers hard, and the REAL reason is being hidden under the guise of inflation.  The truth lies with crypto currency mining (Bitcoin) and massive data centers built by companies like Meta, Amazon, and Google. Mining a single Bitcoin costs around $111,800 in electricity alone, with global Bitcoin mining consuming a staggering 146 terawatt-hours annually. Data centers for AI and cloud computing are just as power-hungry.  Utilities are spending millions to upgrade power grids, but those costs are passed straight to consumers while tech giants score government subsidies and tax breaks. 

These data centers and crypto mines also require massive amounts of fresh water for cooling. A single large data center can use up to 5 million gallons of water daily which is enough to supply a small town. These facilities operate 24/7 yet the economic benefits are minimal, as they employ only a handful of workers compared to the resources they consume.
These operations crowd out other businesses that could bring real economic growth, leaving communities with little to show for it. As Bitcoin mining and data centers keep expanding the financial burden on regular people will only grow while tech giants continue to benefit from government handouts.
For those of you that like word problems: It costs $111, 800 in electricity to mine a single Bitcoin.  The additional cost of hardware, cooling and maintenance is at least $26,000.  If the value of Bitcoin at the time of this post is $119,559., who is winning in this equation?  You do the math.

Much Love, 

Lynn 

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