It is obvious that crypto-money mining has a considerable amount of energy consumption and that electricity use is a critical point of this work, and it cannot be ignored. As such, everyone who wants to criticize crypto coins in a way, especially the environmentalists, uses negative expressions in this way and even go back to the point that crypto-money mining can bring the end of the world.
A user named Digiconomist on Twitter shared a data set showing the energy consumption indices of various activities in the world with their followers. Accordingly, the sum of the energy consumed by Bitcoin and Ethereum mining finds itself among the most energy-consuming activities in the world.
43th and 44th of the list are Israel and Greece. If we look at the Ethereum mining specificity in these figures; it is equal to and almost equal to the annual energy consumed by the African country Angola; It corresponds to an annual energy need of 732 thousand households.
According to the report, Bitcoin mining – which has a carbon footprint of more than 23 kilos per year – accounts for 22 percent of the total energy consumption alone. In Ethereum this rate is 4 per thousand.
The report also states that the amount of energy consumed by the Bitcoin network is equivalent to the amount of energy consumed by 4 million homes a year in the US.
Along with this energy cost and safety weaknesses, Proof of Work crypto coins are expected to be expected in the future.
Bitcoin Mining is an Energy Consumption that is equivalent to 22% of the Global Annual Energy Consumption.