How much power do we spend to make Bitcoins?

Maria Santos
Author
Last updated on:
Fact Checker

Some curious numbers about Bitcoin are rising! Today, we’re talking about how much power we spend to mine Bitcoins. According to the latest numbers, digital currency mining is said to use over $300,000 worth of electricity per day. That’s a lot of energy!

Since the beginning of Bitcoin, the mining process has been getting harder and this means that we need more and more energy each day to produce cryptocurrency. It’s no wonder as we have already seen the kind of computer that miners need to create Bitcoins (if you didn’t catch these monster-like computers, here they are).

However, the website that gathers all the available data about Bitcoin mining, the page Blockchain.info, published an estimated electricity consumption that is shocking: 2,045.17 megawatts per hour!

Just make the math. This is a total of $306,774.97 per day.  Still, this isn’t the total cost, because the estimate doesn’t include the energy and resources needed to make the computers run, this is only the cost of the mining process.

Although the costs are relatively high, Bitcoin miners still make a profit. Not as much as in April, when cryptocurrency reached a peak, but they make it work.

Via coindesk.com

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.
Maria Santos
Maria Santos

Maria is an experienced journalist currently living in the UK. She has been writing about Bitcoin and the altcoin universe since 2013. She is also a member of the Lifeboat Foundation's New Money Systems Board and a big cryptocurrency supporter. Read More

Free Bitcoin Crash Course

Learn everything you need to know about Bitcoin in just 7 days. Daily videos sent straight to your inbox.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service
We hate spam as much as you do. You can unsubscribe with one click.