BTC energy consumption was the size of small country in 2023 according to a comparison that puts the crypto's footprint against that of 10 global nations. The source mentions it picked the countries due to their high energy consumption. As of May 2023 and based off the source's estimates on how big the Bitcoin energy consumption is around that time in TWh per year, the virtual coin's electrical footprint was around 10 percent of Russia's entire energy production. The source reaches this estimate by assuming that miner costs and income are the same thing: The higher the miner income, the more powerful machinery it can support. Essentially, the source first calculates how much miners earn, then estimates how much of this income is spent on electricity and how much per kWH, to finally be converted into consumption figures.
Energy consumption from Bitcoin compared to the total energy consumption in selected countries worldwide as of December 5, 2023
The source compared its estimates on overall Bitcoin energy consumption against the energy consumption found in "some of the world’s biggest energy consuming nations". Other countries were not available, nor did the source provide information on where it had gotten the country's figures.
Supplementary notes
The source did not provide figures other than the ones shown here.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Digiconomist. (December 5, 2023). Energy consumption from Bitcoin compared to the total energy consumption in selected countries worldwide as of December 5, 2023 [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/881522/bitcoin-energy-consumption-relative-to-select-countries/
Digiconomist. "Energy consumption from Bitcoin compared to the total energy consumption in selected countries worldwide as of December 5, 2023." Chart. December 5, 2023. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/881522/bitcoin-energy-consumption-relative-to-select-countries/
Digiconomist. (2023). Energy consumption from Bitcoin compared to the total energy consumption in selected countries worldwide as of December 5, 2023. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/881522/bitcoin-energy-consumption-relative-to-select-countries/
Digiconomist. "Energy Consumption from Bitcoin Compared to The Total Energy Consumption in Selected Countries Worldwide as of December 5, 2023." Statista, Statista Inc., 5 Dec 2023, https://www.statista.com/statistics/881522/bitcoin-energy-consumption-relative-to-select-countries/
Digiconomist, Energy consumption from Bitcoin compared to the total energy consumption in selected countries worldwide as of December 5, 2023 Statista, https://www.statista.com/statistics/881522/bitcoin-energy-consumption-relative-to-select-countries/ (last visited November 21, 2024)
Energy consumption from Bitcoin compared to the total energy consumption in selected countries worldwide as of December 5, 2023 [Graph], Digiconomist, December 5, 2023. [Online]. Available: https://www.statista.com/statistics/881522/bitcoin-energy-consumption-relative-to-select-countries/
