Bitcoin

Recent estimates indicate that the total energy consumption of the Bitcoin network is 176.02 TWh per year. This exceeds the annual energy consumption of countries like Finland and raises concerns among environmentalists. 
Since 2018, <a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/">Bitcoin miners</a>' energy consumption has increased tenfold, due to the network's growing difficulty and the increasing number of miners. In 2024, Bitcoin mining consumes between 110 and 172 TWh annually. 
The International Monetary Fund predicts that by 2027, mining will account for 2% of global <a href="https://ultramining.com/news/en/minnesota-man-faces-accusations-of-electricity-theft-for-bitcoin-mining/">electricity</a> consumption and 1% of global CO2 emissions. This raises questions about the sustainability and environmental responsibility of the cryptocurrency industry.

Bitcoin Network’s Energy Consumption Reaches 176 TWh per Year

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