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Does Bitcoin Have an Energy Problem? 5 Of course, Bitcoin is not a country. Comparing its energy consumption to countries does not accomplish much beyond giving a reference point to the amount of energy that is being used. If we consider the top ten countries in the world by energy consumption that have mining operations, Bitcoin at most makes up 1.29% of any one country’s total energy consumption. Using the United States as a reference point, video game consoles make up ~0.25% of energy consumption, while construction (~2.2%), commercial cooling (~2.7%), commercial ventilation (~2.9%) and commercial lighting (~3.0%) each make up roughly 2 - 3% of energy consumption, respectively. While this may seem intentionally misleading to the reader, it is important context. Charts that show national energy use with Bitcoin as its own country are leaving out that Bitcoin mining energy consumption is distributed among various countries as a subset of each country’s total energy consumption. With this in mind, comparisons between the energy consumption of Bitcoin and countries are largely useless. Countries spend energy on a lot of things. A lot of those things are really important. A lot of those things are far less important. However, what countries do not directly spend energy on is a global, trustless, permissionless payment settlement network and a digital, aspirational store of value.PDF Image | Does Bitcoin Have an Energy Problem
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