Bitcoin mining consumes more electricity than 20+ European countries.Are you really Think so?

As Bitcoin continues its stride towards mainstream adoption, it turns out that its surging price rates are not the only thing experiencing a sudden increase. New research indicates that the popular cryptocurrency now consumes more electricity than more than 20 countries in Europe.

In case you were wondering what all this electricity bills round up to, the researchers estimate the annual Bitcoin mining electricity costs currently stand at $1.5 billion. One thing to keep in mind is that the estimation assumes mining occurs in places with low electricity rates. So the number could be even higher in reality.

#Power Compare further notes that Bitcoin’s current estimated annual electricity consumption stands at 29.05 TWh – the equivalent of 0.13 percent of the world’s overall #electricity needs.