The compilers of the Cambridge Bitcoin Electricity Consumption Index have presented a new version of it, which, like a mirror, reflects the increased interest of users in mining cryptocurrency. It is said that about 116 TWh of electricity per year are currently consumed for these purposes.
For comparison, the energy supply of New Zealand takes 41 TWh per year, while the whole of Switzerland consumes 56 TWh per year. Bitcoin mining now requires even more electricity than the Netherlands needs, with a demand of 111 TWh.
If you look at the graph of growth in energy consumption, you can easily see the rise that was outlined in late October – early November last year: since then more and more electricity has been spent on mining. And as long as the value of bitcoin continues to rise, this trend will continue. Meanwhile, in some areas and cities of the world, there are already power outages caused by the activities of cryptocurrency miners.
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