Scientists at the University of Cambridge have calculated that to maintain the Bitcoin network, more electricity is needed per year than all of Switzerland consumes. This was stated by the researcher of the Cambridge Center for Alternative Finance (KTSAF) Michael Rauch.
This week, CCAF launched an online service that allows you to assess the power consumption of the Bitcoin network in real time. The tool is called the Cambridge Bitcoin Energy Consumer Index (KIEB). Experts have already called it “the carbon trace of cryptocurrency.”
According to KIEB, the global Bitcoin network consumes about seven gigawatts of electricity. This is almost two times more than the Leningrad NPP produces.