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Bitcoin Mining Power Consumption Exceeds 2020: Report
Miners are on track to use 91 TWh this year.
Bitcoin miners have already used more electricity than in all of last year, BloombergNEF (BNEF) reported Monday.
- Miners are on track to use 91 terawatt hours (TWh) this year, or about the same amount as Pakistan, BNEF said.
- Estimated energy consumption of bitcoin mining last year was 67 TWh.
- Bitcoin’s rising price in recent months has made mining more attractive, enticing companies with less energy-efficient machines to join the network and drive up power usage.
See also: Bitcoin Mining Difficulty Rises, Extending Recovery After China Crackdown
STORY CONTINUES BELOW
Sheldon Reback
Sheldon Reback is CoinDesk editorial's Regional Head of Europe. Before joining the company, he spent 26 years as an editor at Bloomberg News, where he worked on beats as diverse as stock markets and the retail industry as well as covering the dot-com bubble of 2000-2002. He managed the Bloomberg Terminal's main news page and also worked on a global project to produce short, chart-based stories across the newsroom. He previously worked as a journalist for a number of technology magazines in Hong Kong. Sheldon has a degree in industrial chemistry and an MBA. He owns ether and bitcoin below CoinDesk's notifiable limit.
