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The world uses 64 million KWh of electricity to maintain Bitcoin money, more than Swiss consumption


The Cambridge University study estimates the electricity that the world uses to maintain current Bitcoin electronic money is about 64 million KW / h (64 million kilowatt hours) each year. This number is even more than the amount of electricity consumed by Switzerland in the same period, which is only about 58 million KW / h.

To estimate the power needed to maintain the global Bitcoin network, Cambride University has developed a tool called CBECI, which gives us interesting insights about Bitcoin and its impact on electrical systems. Around the world.




Specifically, the Bitcoin digging system now uses about 0.25% of the electricity consumed globally, enough for you to heat all the teapot in the UK today for 11 years continuously. However, this is far from the wasted power in the US with "always on" devices but not working, which can power the Bitcoin network four times larger than it is today.

In fact, digging and maintaining Bitcoin computer networks costs a lot of energy which everyone knows from the beginning. However, it should be noted that the information from CBECI is only an estimation as main, scientists from Cambride University also admitted that determining the exact power to maintain the current Bitcoin network is extreme. Hard times, and the highest is that they can only identify it at a certain time.

It is this factor that, in fact, the maximum and minimum power consumption difference of Bitcoin networks is very large, from 22 million KWh to 150 million KWh according to CBECI tool of Cambridge University. Meanwhile, a site specializing in electricity statistics used for other Bitcoin networks is Digiconomic estimated that the world uses up to 70 million kWh per year. Determining the effect of Bitcoin on the environment is also a problem because it is difficult to determine how electricity is produced (hydroelectricity, thermoelectricity, wind power, …).

According to PwC expert Alex de Vries, the Bitcoin network now has less than 100 million successful transactions each year and this is a significant number compared to 500 million transactions via traditional banks. However, he predicts that Bitcoin uses more electricity per transaction than all the banks in the world combined.



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