Bitcoin mining worldwide consumes a total of 29.05 TWh (Terawatt-hour) of electricity annually – which equals 29 billion kWh (Kilowatt-hour), according to a survey conducted by the Digiconomist.
In addition, data from Power Compare reveals that figure is equivalent to 0.13% of overall global electricity consumption, which does not seem like much. However, the energy expenditure of mining is greater than the expenditure of 159 countries together, including a large part of the countries of Africa and Central America, as well as countries in Asia and the Middle East.
If bitcoin miners represent a country, they would be 61st in the list of countries that spend the most energy.
In addition, there has been no last month, a 29.98% increase in bitcoin’s energy consumption and the estimated global mining cost of $ 1.5 billion. If the rate remains, an expectation that it is a bitcoin mining consumes all of the world’s electricity by February 2020 – without considering variations in crypto-sediment mining or evolution of electricity production.