The Bitcoin Energy Consumption Index provides the latest estimate of the total energy consumption of the bitcoin network.
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Find out everything you need to know about the site today. What is the Bitcoin Energy Consumption Index?
The page estimates the consumption of the bitcoin networkwhich consists of the cumulative energy requirements of everything on the bitcoin network. You can also track the energy consumption over time.
A shift in perspective
To deep dive into a specific stats area, just click and drag anywhere on the graph and get more detailed daily breakdowns. How much electricity does it use in a year? Which country uses the equivalent energy of the entire bitcoin network in a single day? Here are all of the stats you can learn from the Bitcoin Energy Consumption Index stats accurate as of November 20, Current Estimated Annual Electricity Consumption: Yes, you can easily find the total network hashrate for bitcoin.
Prior to the launch of Bitcoin Energy Consumption Index, energy consumption estimates for bitcoin typically included assumptions on what number of machines were still active and how these machines were distributed. Bitcoin Energy Consumption Index acknowledges this previous model. With that in mind, Bitcoin Energy Consumption Index approaches energy consumption estimations based on the idea that miner income and costs are related.
Here are the four steps they use to come up with their estimates: Step 1 Calculate total mining revenues from the network in USD Step 2 Estimate what part of revenue is spent on electricity Step 3 Find out how much miners pay per kWh Step 4 Convert costs to consumption This calculation takes a number of variables into account.
What is the Bitcoin Energy Consumption Index?
There are also reviews of cryptocurrency exchanges. You can check the index to get an instant look at the overall energy consumption of bitcoin, including the number of US households that could be powered by the bitcoin network, or the country that best matches the bitcoin network in terms of energy consumption.
You can view the Bitcoin Energy Consumption Index chart yourself here: You can unsubscribe at any time..