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The Hidden Energy Cost of Cryptocurrency Mining

The staggering electricity consumption of Bitcoin mining

Imagine powering your entire home for nearly two years using the electricity required to mine just one Bitcoin. That's the astonishing reality behind the energy-intensive process of cryptocurrency mining.

A global energy guzzler

In 2020 and 2021, Bitcoin alone consumed a whopping 17,342 terawatt hours of electricity – an amount that would place it among the top 27 electricity-consuming nations in the world. This exorbitant energy usage raises serious concerns about the environmental impact of cryptocurrency mining.

US's electricity consumption

The new report reveals that cryptocurrency mining operations in the United States account for a staggering 0.9% to 1.7% of the country's total electricity consumption. This underscores the urgent need for addressing the sustainability of these operations.