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Bitcoin Mining Power Consumption Exceeds 2020: Report
Miners are on track to use 91 TWh this year.
Updated May 11, 2023, 4:14 p.m. Published Sep 13, 2021, 10:53 a.m. 1 min read
Bitcoin miners have already used more electricity than in all of last year, BloombergNEF (BNEF) reported Monday.
- Miners are on track to use 91 terawatt hours (TWh) this year, or about the same amount as Pakistan, BNEF said.
- Estimated energy consumption of bitcoin mining last year was 67 TWh.
- Bitcoin’s rising price in recent months has made mining more attractive, enticing companies with less energy-efficient machines to join the network and drive up power usage.
See also: Bitcoin Mining Difficulty Rises, Extending Recovery After China Crackdown
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