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Apparently it's very energy demanding, and accelerating very quickly. Whole power plants are being used to supply giant crypto mines of shelves and shelves of computers all running at full blast.
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That's a second order effect. Mining doesn't require massive inputs, but people who want to get rich quick running mining rigs instead of earning them. The competition heats things up. The real metric is compared to what. Citation needed of course, but IIRC mining gold requires more energy than Bitcoin. And then you get to banks and credit card system that could be rendered redundant.
Once the Bitmine runs dry, the system will continue to run on transaction fees.