⚡️ Bitcoin Uses More Electricity Than Switzerland

Among other things, #Bitcoin has been criticized for price volatility, use in illegal transactions and thefts from exchanges. It has also proven highly controversial for the sheer amount of energy it requires. The University of Cambridge has released a new online tool that estimates the level of electricity the #CryptoCurrency network uses and compares it with other entities.

It estimates that Bitcoin uses 61.76 terawatt-hours (TWh) of electricty per year, more than many countries and around 0.28 percent of worldwide electricity consumption.

The Czech Republic 🇨🇿 consumes an estimated 62.34 TWh while Switzerland 🇨🇭 consumes 58.46 TWh annually by comparison. In fact, if Bitcoin was a country, it would be the 41st most-energy-demanding nation on earth.

🚀 @PerspectiveIX via Statista.