The amount of power it takes to mine Bitcoin is out of control.
New numbers from Power Compare show Bitcoin mining will consume all of the world’s electricity by February 2020 if it keeps increasing at this rate.
Here are some more amazing numbers from the report:
- The amount of electricity used for Bitcoin mining has increased by about 29.98% in the last month
- The estimated worldwide revenues from mining are at $7.2 billion, with an electricity cost of $1.5 billion
- 2.4 million Americans could be powered by bitcoin mining, which is more than the population of Houston
- Bitcoin mining eats up more electricity per year than Alaska, Hawaii, Idaho, Maine, Montana, New Hampshire, New Mexico, North Dakota, Rhode Island, South Dakota, Vermont and Wyoming combined