The energy consumption of the Bitcoin network is even more than in Pakistan, with a population of 226 million

Şükriye Akdeniz

Sep 13, 2021

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The leading cryptocurrency got its investors excited with its rise in August, but the leading crypto is facing a big hurdle in September. Besides, it may be a matter of time before more problems are revealed for Bitcoin.
The network's latest energy consumption report showed that BTC surpassed the energy consumption levels of 2020 by the third quarter of 2021.
Bitcoin network consumption in 2020 was calculated as approximately 67TWh of electricity. It is estimated that the electricity consumption of Bitcoin, which has consumed more than that in 2021, may have exceeded 91TWh, even surpassing Pakistan with a population of 226 million.
As BTC price increases, low-yield mining is also increasing.
According to the report, the main reason for increasing the energy consumption of the BTC network is that the rising BTC price has led to the use of less efficient mining machines.

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