Cryptocurrency becoming larger and larger day by day today i saw some interesting articles. It said bitcoin mining electricity consumption is surpassed 159 country around the world. I know so many people are start interesting bitcoin and bitcoin mining but i didn't know mining is getting this far.
According to a research conducted by a U.K.-based energy comparison tariff service called PowerCompare, the average electricity used to mine bitcoin this year has surpassed the annual energy usage of some 159 countries. Specifically, the global average energy spent on bitcoin mining has far exceeded the electricity consumption in Ireland and most African nations.
The new research used data provided by Digiconomist, whose current estimate of electricity used to mine bitcoin is around 30.14 TWh annually. That’s the equivalent of 0.13% of total global electricity consumption
In fact a single bitcoin transaction consumes enough energy to power the average household for an entire month. Digiconomist also found that Ethereum, the second most popular cryptocurrency today, also uses more than a country’s worth of electricity. If Bitcoin miners were a country they’d rank 61st in the world in terms of electricity consumption.
If that growth rate were to continue, and countries did not add any new power generating capacity, Bitcoin mining would:
Be greater than UK electricity consumption by October 2018 (309 TWh)
Be greater than US electricity consumption by July 2019 (3,913 TWh)
Consume all the world’s electricity by February 2020. (21,776 TWh)
Here are a few other interesting facts that i saw about Bitcoin mining and electricity consumption:
In the past month alone, Bitcoin mining electricity consumption is estimated to have increased by 29.98%
If it keeps increasing at this rate, Bitcoin mining will consume all the world’s electricity by February 2020.
Estimated annualised global mining revenues: $7.2 billion USD (£5.4 billion)
Estimated global mining costs: $1.5 billion USD (£1.1 billion)
Number of Americans who could be powered by bitcoin mining: 2.4 million (more than the population of Houston)
Number of Britons who could be powered by bitcoin mining: 6.1 million (more than the population of Birmingham, Leeds, Sheffield, Manchester, Bradford, Liverpool, Bristol, Croydon, Coventry, Leicester & Nottingham combined) Or Scotland, Wales or Northern Ireland.
Bitcoin Mining consumes more electricity than 12 US states (Alaska, Hawaii, Idaho, Maine, Montana, New Hampshire, New Mexico, North Dakota, Rhode Island, South Dakota, Vermont and Wyoming)
According to a research conducted by a U.K.-based energy comparison tariff service called PowerCompare, the average electricity used to mine bitcoin this year has surpassed the annual energy usage of some 159 countries. Specifically, the global average energy spent on bitcoin mining has far exceeded the electricity consumption in Ireland and most African nations.
The new research used data provided by Digiconomist, whose current estimate of electricity used to mine bitcoin is around 30.14 TWh annually. That’s the equivalent of 0.13% of total global electricity consumption
In fact a single bitcoin transaction consumes enough energy to power the average household for an entire month. Digiconomist also found that Ethereum, the second most popular cryptocurrency today, also uses more than a country’s worth of electricity. If Bitcoin miners were a country they’d rank 61st in the world in terms of electricity consumption.
If that growth rate were to continue, and countries did not add any new power generating capacity, Bitcoin mining would:
Be greater than UK electricity consumption by October 2018 (309 TWh)
Be greater than US electricity consumption by July 2019 (3,913 TWh)
Consume all the world’s electricity by February 2020. (21,776 TWh)
Here are a few other interesting facts that i saw about Bitcoin mining and electricity consumption:
In the past month alone, Bitcoin mining electricity consumption is estimated to have increased by 29.98%
If it keeps increasing at this rate, Bitcoin mining will consume all the world’s electricity by February 2020.
Estimated annualised global mining revenues: $7.2 billion USD (£5.4 billion)
Estimated global mining costs: $1.5 billion USD (£1.1 billion)
Number of Americans who could be powered by bitcoin mining: 2.4 million (more than the population of Houston)
Number of Britons who could be powered by bitcoin mining: 6.1 million (more than the population of Birmingham, Leeds, Sheffield, Manchester, Bradford, Liverpool, Bristol, Croydon, Coventry, Leicester & Nottingham combined) Or Scotland, Wales or Northern Ireland.
Bitcoin Mining consumes more electricity than 12 US states (Alaska, Hawaii, Idaho, Maine, Montana, New Hampshire, New Mexico, North Dakota, Rhode Island, South Dakota, Vermont and Wyoming)
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