Bitcoin mining and its energy consumption have recently been the subject of many heated debates. As governments and institutions around the world keep introducing new measures to combat pollution and climate change, Bitcoin’s energy-guzzling network sticks out like a sore thumb.
Various data aggregators and trackers work around the clock to provide the market with the exact amount of energy the network consumes. Many offer interesting comparisons with the goal to illustrate just how much power Bitcoin requires.
For example, some data shows that the amount of electricity consumed by the Bitcoin network in a single year could power the entire University of Cambridge for 758 years. The networks’ one-year energy consumption could also power all the tea kettles used to boil water in the U.K. for 23 years. Bitcoin also uses more power than all of the fridges and TVs, and almost twice as much power as all of the lightning in the entire U.S.
While popular, this narrative doesn’t paint a
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