Bitcoin Mining Needs More of the Energy Countries Use

It has been determined that 91 TW/h of electricity is spent in a year in order to obtain Bitcoin, whose value has increased tremendously. This energy used for Bitcoin mining is even more than the electricity used by Finland with a population of 5.5 million.

Bitcoin, which comes to mind first when the name of crypto money is mentioned, has been attracting attention on the mining side for a long time with its increasing popularity. We already understand this from the graphics cards that are out of stock and the prices are rising. However, the rate of electricity consumed during Bitcoin mining has also increased alarmingly. Because it is now possible to earn money with different methods, from those who use PS4 Pro for crypto money mining to those who buy power plants. The fact that the electricity consumed by the equipment used in this process exceeds the energy use level of some countries may also cause environmental problems.

The New York Times published a report a few days ago outlining the energy used in the Bitcoin mining process. Even if the accuracy of the data presented in this report is not certain, it provides an opinion on the subject. The most surprising detail mentioned in the report is that Bitcoin mining globally consumes about 91 terawatt-hours of electricity every year. Moreover, as we mentioned at the beginning, if we compare this value with Finland’s electricity use, we observe that there is a very small difference. This includes countries like Denmark, the Netherlands, Sweden and Chile. In addition, the fact that the electricity consumed in all Bitcoin excavations in the world is 7 times more than the electricity used by Google in a year can be described as another interesting aspect of the research.

Although Bitcoin, which is seen as the currency of the future, has various advantages, on the other hand, there are no disadvantages. The rumors that the last power outage in Iran was due to people dealing with Bitcoin mining had been on the agenda for a long time. In addition, Bill Gates announced that Bitcoin was not environmentally friendly in the first months of this year, while electric car giant Tesla removed the option to pay with Bitcoin, citing its environmental damage. According to some experts, it is estimated that the global warming that has been felt recently is caused by Bitcoin mining. Do not forget to express your thoughts in the comments.