Cryptocurrency mining consuming too much power: IMF Chief

International Monetary Fund (IMF) Chief Christine Lagarde has said cryptocurrency mining is extremely energy intensive and takes as much electricity as a G-20 economy. "In 2018, if it continues, that system will actually consume as much electricity as Argentina," she added. Notably, if Bitcoin was a country it would rank 53rd in energy consumption, according to crypto analysis site Digiconomist.