News > Bitcoin uses more electricity than many countries. How is that possible?
Bitcoin uses more electricity than many countries. How is that possible?
Indian Express | 14/09/2021 01:04 PM | Click to read full article
The process of creating Bitcoin consumes around 96 terawatt-hours of electricity annually, more than is used by the Philippines, a nation of about 110 million. That usage, which is close to half-a-percent of all the electricity consumed in the world, has increased about tenfold in just the past five years.
The Bitcoin network uses about the same amount of electricity as Washington state does in a year. And more than one-third of what residential cooling in the United States uses up.