Bitcoin uses more electricity than many countries

Power guzzler
Cryptocurrencies like Bitcoin use astonishing amounts of electricity, says an article in the New York Times. The process of creating Bitcoin consumes around 96 terawatt-hours of electricity annually — more than what is used by the Philippines. The usage is close to half-a-percent of all the electricity consumed in the world. And more than seven times as much electricity as all of Google’s global operations. Read on to see how.