Bitcoin to use 0.5% of world's power by year-end: Study
Bitcoin could consume 7.7 gigawatts or about 0.5% of the world's total electricity by 2018-end, according to a study by Digiconomist founder Alex de Vries. The study estimated Bitcoin network's minimum energy consumption was 2.55 gigawatts, as much as Ireland. If Bitcoin miners were a country, they would currently rank 42nd in terms of energy consumption, according to Digiconomist.