The map above is an update on last year’s look at Bitcoin electricity consumption. Currently, only 38 countries definitely consume more electricity than total Bitcoin mining.
Other quick facts:
- The Digiconomist Bitcoin Energy Consumption Index currently estimates that Bitcoin mining is consuming somewhere between 55.63 and 73.12 TWh of electricity per year.
- This means Bitcoin mining is now using more electricity than between 175 and 181 individual countries/territories (up from 159 last year).
- It currently takes an estimated 94,000 KWh of worth of electricity to mine one Bitcoin.
- Bitcoin mining now potentially consumes more electricity than the bottom 750 million electricity users – 10% of the World’s Population.
- Nigeria (population 186 million) is the most populous country that likely uses less electricity than global Bitcoin mining.
- Norway (population 5.2 million) is the least populous country that definitely uses more electricity than global Bitcoin mining
- Bitcoin mining is the equivalent to as much as 33% of Australian, 24% of UK, 14% of Canadian or 2% of US electricity consumption.
- 66 countries have lower electricity consumption per capita than 1 Bitcoin transaction.
- Only 38 countries now definitely still consume more electricity than Bitcoin mining with a further 6 possibly doing so.
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