Bitcoin, the world's most famous cryptocurrency, has been under scrutiny for its massive energy consumption. The process of creating and maintaining the Bitcoin network, known as mining, requires significant amounts of electricity

THE POWER OF BİTCOİN

The Magnitude of Bitcoin's Energy Consumption: The energy consumption of Bitcoin is very
big . According to recent estimates, Bitcoin consumes around 91 terawatt hours (TWh) of electricity annually, surpassing the energy consumption of entire countries like Norway. This accounts for approximately 0.4% of the worlds total electricity consumption and has increased significantly over the past few years

POTENTIAL SOLUTIONS

To address the environmental concerns associated with Bitcoin's energy consumption some ways are being sought . Encouraging Bitcoin miners to adopt renewable energy sources like solar or wind power can significantly reduce its carbon footprint. Several initiatives and companies are already committed to promoting greener mining practices

SOME EXAMPLES TO COMPARE

According to scientists working at Cambridge University, if Bitcoin producers came together and established a country where only Bitcoin is produced, this country would be the 30th country that consumes the most electricity in the world

According to Cambridge research, the electricity used by Bitcoin could meet the electricity needs of the University of Cambridge for 688 years. Additionally, the electricity used for Bitcoin could power every kettle in the UK for 27 years