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The mining industry uses more power than most African countries

The mining industry is the lifeblood of Bitcoin, but like any industry, it consumes of # 39; energy to unlock the precious virtual currency

all over the world and they will not fail to appear in the next few years while Bitcoin and other cryptocurrencies will continue their way to general acceptance.

At the present time, mining Bitcoin is a lucrative operation. With a price over $ 11,000, there is a lot of money to be won. Like any factory, mining facilities use electricity.

According to the British firm Power Compare, soaring prices of Bitcoin directly influenced the demand for electricity

Quote Digiconomist, the combination of Bitcoin and Bitcoin Cash is estimated. annual electricity consumption climbed to 31 terawatt hours. They also estimate that Bitcoin mining generates $ 9.7 billion annually.

They developed their own Bitcoin energy consumption index, which provided the most recent data on these data.

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Bitcoin and Bitcoin Cash mining uses a total of 0.13 percent of global energy consumption – which ranks combined mining as the world's 61st energy consumer.

Interestingly, but not surprisingly , the energy consumption of Bitcoin mining in November increased by almost 30 percent – no doubt If the demand for electricity caused by mining continues at its own pace current, the mining industry will consume all the electricity of the world by 2020.

In the state, bitcoin mining uses more power than most African countries – as shown in the illustration of Power Compare below

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