Bitcoin Power

Bitcoin has a huge and ever-increasing need for energy. Even though the size of the bitcoin network compared to banking transactions and the shift to credit cards is only a minor niche, it already consumes more electricity than the country of the Netherlands. First, even Google, with all its huge data centers around the world, doesn’t consume that much electricity. In fact, if you add together all the electricity used by Google, Amazon, Microsoft, and Facebook, you still end up with about 1/4 of the amount of energy that bitcoin uses today.

Bitcoin’s power consumption has now reached 124 TWh per year. Although fully updated electricity usage data from these 5 large companies is not available, we are confident that we can compare it with other countries and US states. In the US, only 9 states consume more electricity than bitcoin. Only California and Florida use twice as much electricity as bitcoin. Texas uses 3-4 times more. Also, bitcoin is pretty close to overtaking the remaining 6 states that use more electricity than bitcoin.