At the moment, bitkoy mining requires a lot of investment and very specific equipment. For most, it will be easier to buy currency on the exchange, but this does not mean that mining has slowed. To produce this currency, more and more capacities are being used. And how much is it spent on electricity?
It is expected that by the end of 2018 the global bitcoin network will use 7.67 gigawatts of electric power for cooling and hardware. This is one-hundredth of the electricity used by the entire planet.
According to a study that can be criticized for lack of proper accuracy and the use of averaged data, the bitcoin network currently uses as much electricity as Ireland spends (3.1 gigawatts). In the future, consumption may rise to the level of Australia (8.2 gigawatts).
Of course, this does not mean that it’s time to abandon crypto-currencies, which many regard as a turning point in our history. But see how much influence they have on our world. If the crypto currencies become future money, then we will have to take care of the ecology of the future, because soon the currency will be used as much energy as no developed industrial nation spends.