Global Bitcoin mining eats up more power than most nations – UN study

Between 2020 and 2021, Bitcoin mining consumed 173 TWh of electricity worldwide, more than most countries, according to a new study. — Photo: Jens Kalaene/dpa

BERLIN: Global mining of the cryptocurrency Bitcoin consumes more electricity than many populous countries such as Pakistan, according to a new UN study.

Forecasts from July estimate that more than 135 terawatt hours (TWh) will be needed for bitcoin mining worldwide in 2023, said a group of researchers led by Kaveh Madani from the Institute for Water, Environment and Health at the United Nations University in Hamilton, Canada.