Bitcoin crisis depresses electricity consumption

Published on: November 27, 2018 / update from: November 27, 2018 - Author: Konrad Wolfenstein

Bitcoin Energy Consumption Index estimated Bitcoin's electricity consumption at over 70 terawatt hours (THw) per year In parallel to the crash in the price of the most successful cryptocurrency to date, the immense electricity consumption caused primarily by the mining of new Bitcoins has also fallen drastically. According to Chinese media, the loss of value has led to numerous Bitcoin miners taking their servers offline. Nevertheless, the digital currency is still a full-fledged energy destruction machine, as a comparison with the annual electricity consumption of German private households shows.

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