A new study suggests that Bitcoin has already used more power so far this year than it did in all of 2020.
By the end of the year, the Bitcoin network will have consumed 91 TW/h (terawatt-hours or one trillion watts per hour) and it has already consumed more than the estimated 67 TW/h for all of 2020 according to a Sept. 13 Bloomberg report.
The precise energy consumption figures are variable and not easy to calculate accurately, but the trend is clear — they are increasing. The Cambridge Bitcoin Electricity Consumption Index currently estimates that BTC is set to consume an even greater 95.68 TW/h by the end of the year. This is about the same as the power consumption of the Philippines.
A separate study by Science Direct has highlighted another issue — electronic waste. E-waste generally refers to discarded computer equipment and electronics. The report suggests that one transaction on the Bitcoin network produces 272 grams of e-waste, mostly