New study quantifies bitcoin’s ludicrous energy consumption

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https://arstechnica.com/tech-policy/2018/05/new-study-quantifies-bitcoins-ludicrous-energy-consumption/MV5BYzJhMzFiZmEtNjNlZC00MmFmLWIzOGUtZDJiNDMyOWRmYjRkL2ltYWdlL2ltYWdlXkEyXkFqcGdeQXVyNDAxOTExNTM@.V1_SX1777_CR001777962_AL-800x433.jpg

The bitcoin network is run by miners, computers that maintain the shared transaction ledger called the blockchain. A new study estimates that this process consumes at least 2.6GW of power—almost as much electric power as Ireland consumes. This figure could rise to 7.7GW before the end of 2018—accounting for almost half a percent of the world's electricity consumption
The study is an updated version of calculations performed late last year by analyst Alex de Vries. In this new version, de Vries has gathered more detailed information about the economics of the mining business. But his new numbers are broadly consistent with the old ones. Last December, he estimated that the bitcoin network was consuming roughly 32TWh annually, or 3.65GW. His website, which is updated daily, now shows the network consuming 67TWh annually, just under that upper bound of 7.7GW shown in his new study.

This news is quoted from the source
https://arstechnica.com/tech-policy/2018/05/new-study-quantifies-bitcoins-ludicrous-energy-consumption/