Several recent reports have drawn attention to the massive amounts of energy used for bitcoin mining operations. The statistics are staggering. According to the Digiconomist website, a bitcoin country would rank 64th in the world for overall energy usage.
Bitcoin’s annual energy consumption is estimated to be 30 TWh. (Wikipedia defines one terawatt hour as being equal to a sustained power of 114 megawatts for a period of one year). On a more granular level, approximately 10 U.S. households can be powered for a single day using electricity required for a single bitcoin transaction. (See also: Is Bitcoin Mining Still Profitable?)
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