Bitcoin’s Energy Consumption

Analyzing the electricity it takes to mine digital gold

Photo by Dmitri Demidko on Unsplash

Bitcoin cannot be created on a whim, unlike dollars, yen, euros, etc. Similar to gold, creating new bitcoins takes work.

Instead of relying on central bankers to determine money supply, Bitcoin is decentralized. Miners record transactions that are verified by a global network of nodes¹ enforcing…