Report: BTC electricity consumption in 2021 has exceeded that in 2020

According to a recent study, Bitcoin has already consumed more electricity in 2021 than in all of 2020.

According to Bloomberg, by the end of this year, the Bitcoin network will consume 91TW/h (terawatt hours or 1 trillion watts per hour), which is roughly the same as the electricity consumption of the Philippines.

Another study highlighted the problem of e-waste, which generally refers to discarded computer equipment and electronic products. The report showed that a single transaction on the Bitcoin network generates 272 grams of e-waste, mostly old mining equipment, and as of May 2021, the total amount of e-waste generated annually was 30.7 metric tons.