As Bitcoin continues its stride towards mainstream adoption, it turns out that its surging price rates are not the only thing experiencing a sudden increase. New research indicates that the popular cryptocurrency now consumes more electricity than more than 20 countries in Europe.
Researchers from British energy price comparison platform Power Compare have discovered that the total volume of electricity required for mining Bitcoin – the computational process that keeps transactions on the blockchain moving – now amounts to more consumption than 159 individual countries.
Among others, the list includes Ireland, Croatia, Serbia, Slovakia and Iceland.
Interestingly, only three countries out of the entire continent of Africa currently consume more electricity than Bitcoin: South Africa, Egypt and Algeria.
As far as the rest of the world goes, Power Compare mentions Ecuador, Puerto Rico, North Korea and many more…