In 2017, Bitcoin mining consumed more energy than the annual electricity consumption of 159 countries. The estimated annual electricity consumption of the Bitcoin network in 2020 is 7.

67 gigawatts (GW), which is equal to the annual electricity consumption of the Netherlands.

The total energy consumption of the Bitcoin network is estimated to be about 122.5 terawatt-hours (TWh) per year.

This is about 0.6% of the world’s total electricity consumption.

The estimated annual electricity consumption of the Bitcoin network has grown by more than 100% every year since 2015.

In 2020, the estimated annual electricity consumption of the Bitcoin network is expected to exceed 8% of the world’s total electricity consumption.

The high energy consumption of Bitcoin mining is due to the fact that it takes a lot of energy to run the computers that power the Bitcoin network. The computers that power the Bitcoin network are called “miners”.

Miners use special software to solve math problems and are rewarded with bitcoins for their work. This process is called “mining”.

Mining is a very energy-intensive process because it requires a lot of computing power. A single miner can use up to 1,000 watts of electricity, which is about as much as a hair dryer or a microwave oven.

The high energy consumption of Bitcoin mining has led to concerns about its sustainability. Some people have even suggested that Bitcoin mining could lead to an increase in global warming.