2021-02-22T04:00:01+00:00

Study: Bitcoin has higher electricity usage than the country of Argentina

According to research by scientists at the Cambridge Centre for Alternative Finance, Bitcoin mining consumes around 121.36 terawatt-hours (TWh) electricity per year in order to generate new Bitcoins and verify transactions on the blockchain.

This ranks Bitcoin’s electricity consumption above Argentina (121 TWh), the Netherlands (108.8 TWh) and the United Arab Emirates (113.20 TWh) - and it is gradually creeping up on Norway (122.20 TWh).

Sources: Content Sources

Source: BBC

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Viktor Forgacs

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Christoph Janke

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University of Cambridge

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