The network of the first cryptocurrency consumes more electricity than small countries such as Switzerland or Kuwait. This is evidenced by the data online tool from researchers at the University of Cambridge.
This tool, in particular, allows you to see the total power consumption of the Bitcoin network and make comparisons both with various countries of the world and with other objects.
According to the service, today the Bitcoin network consumes 7.49 gigawatts of electricity:
However, this is only 0.28% in relation to the total amount of electricity consumed on a global scale:
On the other hand, in annual terms, to maintain the network of the most popular cryptocurrency, the Proof-of-Work needs more electricity than Switzerland or Kuwait consumes (but slightly less than the Czech Republic or Austria).
Another interesting fact: the total number of household appliances in the US in Standby mode consumes the amount of electricity that would be enough to maintain the Bitcoin network for 4 years.
Nevertheless, the electricity consumed by the bitcoin for the year might be enough to heat water in all the UK's electric kettles for 11 years:
Earlier, BlockchainJournal reported that world gold mining consumes much more electricity than bitcoin mining.
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