Bitcoin mining consumes 0.5% of all electricity used globally and 7 times Google’s total usage

  • Bitcoin mining consumes around 91 terawatt-hours of electricity annually.
  • With increased competition, bitcoin mining has become an industry of its own, requiring specialized machines, servers, and huge data centers with enough cooling capacity to keep the computers from overheating.
  • As noted, the internal mining process itself has become more complex; according to the New York Times, a single desktop computer could easily mine bitcoin back in 2011, when the cryptocurrency had little following.