(Bloomberg) The amount of electricity consumed on the Bitcoin network in 2021 has surpassed 67TWh, the total for last year.
Fig: Daily Power Consumption (GWh)
Electricity consumption on the Bitcoin network is now projected to reach 91TWh by the end of this year.
The surge in energy use by Bitcoin is seen to be fueled by more miners joining the mining industry with less energy-efficient machines following the increase in prices.
The high energy use on the Bitcoin network is raising eyebrows, with further calls to improve the efficiency of mining and move to alternative low-carbon sources of energy.
BTCUSD is up +0.60%
