According to researchers at Cambridge University, in terms of annual energy consumption, Bitcoin now consumes more power than Argentina, the Netherlands, and the United Arab Emirates, at 121.36 TWh.
The Cambridge Bitcoin Electricity Consumption Index, a tool developed by the Cambridge Centre for Alternative Finance under the University of Cambridge’s Judge Business School, provides a real-time update on Bitcoin’s network power. Their annualized chart shows a sudden rise from an estimated annual consumption of 56.48 TWh in late October to almost double that at 112.23 TWH in mid-January.
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