Germany consumes more than four times as much electricity as Bitcoin per year

Germany (500 TWh) consumes more than four times as much electricity as Bitcoin (123 TWh) per year. That’s according to the Cambridge Bitcoin Electricity Consumption Index (CBECI). Significantly more electricity than Bitcoin is consumed, for example, by the USA (3.844 TWh), India (1.229 TWh) or Japan (940 TWh).

What is Bitcoin (BTC)?

Bitcoin is a revolutionary new payment network and a new form of electronic money. It’s a digital currency which enables secure and instant financial transactions at dramatically low costs between any two individuals anywhere on the globe. Bitcoin allows its users to transact directly, peer-to-peer, without an intermediary and can be used just like other currencies or assets in exchange for goods or services. Bitcoins are the unit of currency of the Bitcoin payment network. The most used abbreviations for Bitcoin are BTC or XBT.

Bitcoin is the very first cryptocurrency and was founded by an anonymous person or group of individuals, named Satoshi Nakamoto. To this day, Satoshi Nakamoto’s identity and nationality are still unknown. Bitcoin is decentralized. Unlike traditional currencies like the Euro or the US-Dollar, there is no government, institution or other central third party that oversees the issuance and circulation of Bitcoin. That means Bitcoin cannot be censored, manipulated or controlled by a single centralised institution or government. Also, if you store your Bitcoin in a digital, non-custodial wallet, no institution, government or third party is able to lock you out of your funds.

For more information about Bitcoin and other cryptocurrencies visit our Blockchain FAQ section.

How to I buy Bitcoin (BTC)?

You can buy Bitcoin (BTC) and other cryptocurrencies such as Cardano (ADA) or Ethereum (ETH) on so-called cryptocurrency exchange platforms, like Binance, Kraken or Coinbase.

Table & Chart Data

Source

Survey/Poll by

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Region

Worldwide

Release date

December 15, 2021

Survey time period

Bitcoin data from December 15, 2021; Country data from 2019 or most recent year.

Additional Notes

Last updated December 15, 2021.

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