Visualizing the Power Consumption of Bitcoin Mining
Summary: Cryptocurrencies have been some of the most talked-about assets in recent months, with Bitcoin and Ethereum reaching record highs. These price gains were driven by a flurry of announcements, including increased adoption by businesses and institutions. Lesser known, however, is just how much electricity is required to power the Bitcoin network. To put this into perspective, we've used data from the University of Cambridge's Bitcoin Electricity Consumption Index (CBECI) to compare Bitcoin's power consumption with a variety of countries and companies.