Electricity consumed by Bitcoin surpassed some countries

The annual amount of electricity used for Bitcoin mining surpasses countries like Argentina and the United Arab Emirates.

All transactions made in the crypto currency Bitcoin system are recorded by a large network of computers connected to the crypto currency. The main factor that causes electricity consumption in the system is the people who are called miners and produce bitcoin. Since miners have to do these operations with too many advanced computers, it causes intense electricity consumption.

According to data compiled by AA correspondent from Cambridge University’s Cambridge Alternative Finance Center, Argentina’s annual electricity consumption with a population of 45 million is 121 terawatt-hours.

The annual electricity consumption of the United Arab Emirates, which has a population of approximately 10 million, was recorded as 113.2 terawatt hours. Accordingly, Bitcoin outperformed both countries with 121.05 terawatt-hours of electricity per year.

In the list of electricity expenditures made with countries, Norway is just ahead of Bitcoin with 122.20 terawatt hours and Ukraine with 133.20 terawatt hours. The electricity used for mining the cryptocurrency is expected to surpass Norway in the near future.

According to data TEİAŞ in Turkey last year consumed 305.4 teravatsaat. According to this calculation, Turkey’s annual electricity consumption for Bitcoin is equivalent to 40 percent of annual consumption.

TESLA’S GIANT INVESTMENT

According to Cambridge’s research, the electricity used by Bitcoin could meet Cambridge University’s electricity needs for 688 years. Also, with the electricity used for Bitcoin, any kettle in the UK can be operated for a full 27 years.

It was calculated that the electricity consumed for Bitcoin corresponds to 0.56 percent of the electricity consumption in the world. Finally, on February 8, the US electric car manufacturer Tesla announced that it had invested $ 1.5 billion in Bitcoin. After Tesla’s notification on the subject, the price of Bitcoin exceeded $ 44 thousand and refreshed the record.

Tesla’s Senior Manager (CEO) Elon Musk put a Bitcoin tag in his profile description on his social media account Twitter in recent weeks. The value of the cryptocurrency had risen over 10 percent after Musk’s move.


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Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.

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