However, its environmental impact is drawing increasing scrutiny. Every day, the cryptocurrency’s network consumes an immense 250 GWh (0.25 TWh) of energy — enough to sustain millions of homes or power entire countries for 24 hours or more. This article explores Bitcoin’s energy consumption by comparing it to the daily power needs of various nations, revealing the scale of its impact on global energy resources.
Key Takeaways
- Bitcoin’s annual energy consumption of 91,510 GWh surpasses the annual energy usage of over 80 countries, including Chad, Burundi, and Somalia.
- Bitcoin consumes an average of 250 GWh per day — roughly equivalent to nearly 305 days of Chad’s energy consumption and 228 days of Somalia’s.
- Bitcoin’s annual energy consumption of 91,510 GWh is comparable to, or even exceeds, the annual energy usage of Ecuador (90,000 GWh), Bulgaria (87,000 GWh), and Sri Lanka (86,000 GWh).
- Bitcoin’s daily energy consumption (250 GWh) could power approximately 8.4 million U.S. homes for 24 hours.
- Bitcoin’s average annual energy consumption of 91,510 GWh surpasses the annual energy usage of over 80 countries, including Chad, Burundi, and Somalia.
- Bitcoin consumes an average of 250 GWh per day — roughly equivalent to nearly 305 days of Chad’s energy consumption and 228 days of Somalia’s.
- Bitcoin’s annual energy consumption of 91,510 GWh is comparable to, or even exceeds, the annual energy usage of Ecuador (90,000 GWh), Bulgaria (87,000 GWh), and Sri Lanka (86,000 GWh).
- Bitcoin’s daily energy consumption (250 GWh) could power approximately 8.4 million U.S. homes for 24 hours.
Bitcoin’s daily energy consumption could power these 10 major countries for this many days:
- Finland: 1.04 Days
- Philippines:1.06 Days
- Switzerland: 1.30 Days
- New Zealand: 1.38 Days
- Denmark: 1.39 Days
- Hungary: 1.47 Days
- Taiwan: 1.47 Days
- Austria: 2.03 Days
- Chile: 1.90 Days
- Greece: 3.23 Days
Methodology
This analysis compares Bitcoin’s energy consumption with the daily and annual energy use of 150 countries. Data on Bitcoin’s energy consumption was sourced from the Cambridge Bitcoin Electricity Consumption Index (CBECI), and national energy consumption data was obtained from U.S. Energy Administration (EIA).
Calculations were performed to determine how many days each country’s energy needs could be met using Bitcoin’s daily energy consumption.
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Fair Use Statement
These insights are available for noncommercial sharing with a citation link.