Bitcoin will use 0.5% of world’s electricity by end of 2018, according to a study. Current estimates put the minimum current usage of the bitcoin network at 2.55 gigawatts. Equivalent to the consumption of Ireland. A single transaction uses as much electricity as an average household in the Netherlands uses in a month. By the end of this year, he predicts the network could be using as much as 7.7 gigawatts—as much as Austria and 0.5% of the world’s total consumption. Bitcoin’s
increasing electricity demands has attracted as much attention as its fluctuating value.