Thursday, October 16, 2025

Bitcoin’s 2021 Electricity Consumption has Already Exceeded the Entirety of 2020

As the popularity of the world’s largest cryptocurrency grows, the energy consumption and subsequent environmental damages also continues to accelerate.

According to data published by Cambridge University, bitcoin’s power consumption is expected to hit 95.68 terawatt-hours (TW/h) before the end of the year, which astonishingly equates to the total power consumption of the Philippines. A similar report by Bloomberg found that the bitcoin network has already consumed more than the 67 TW/h previously estimated for the entirety of 2020.

However, it appears that bitcoin’s growing energy appetite is not only contributing to greenhouse gas emissions. Electronic waste is increasingly piling up, as cryptocurrency miners seek newer and faster computers, causing a high turnover and an accumulating e-waste problem. A recent study by Science Direct suggests that “bitcoin could produce up to 64.4 metric kilotons [64,400 tons] of e-waste at peak bitcoin price levels seen in early 2021.”

Paris-based economist Alex de Vries, who was cited by the Economic Times, estimates that the computational power of mining machines doubles each year, making older mining hardware obsolete. Vries calculated that bitcoin is responsible for creating more e-waste than entire midsize countries alone. “Bitcoin miners are completely ignoring this issue, because they don’t have a solution,” Vries said. “These machines are just dumped.”


Information for this briefing was found via Cambridge University and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

Military Seizes Power in Madagascar After President Flees

Altamira Gold Hits 395.5 Metres Of 0.4 g/t Gold At Maria Bonita

Related News

Bitcoin Is Showing Signs Of Exhaustion: Chris Vermuelen

Starting off this week on the Daily Dive, is that of Chris Vermuelen of The...

Monday, April 19, 2021, 01:30:00 PM

MicroStrategy Acquires 660 Bitcoin For $25.0 Million In January

It’s a new month, and that means a new monthly update for MicroStrategy’s (NASDAQ: MSTR)...

Tuesday, February 1, 2022, 08:31:23 AM

Jack Dorsey’s Square Buys $170 Million More In Bitcoin

Twitter CEO Jack Dorsey’s financial services company Square has doubled down on Bitcoin, and increased...

Thursday, February 25, 2021, 02:45:00 PM

Michael Saylor Claims There’s “60% Risk-Free Returns” At The Bitcoin Lake

Michael Saylor, executive chairman of MicroStrategy (NASDAQ: MSTR) and one of the most outspoken advocates...

Monday, December 30, 2024, 11:18:00 AM

Gold: Where Will The Producers Spend Oncoming Cash Flows? – The Daily Dive ft Joe Mazumdar

For today’s episode of the Daily Dive, we’re rejoined by Joe Mazumdar of Exploration Insights....

Thursday, May 20, 2021, 01:30:00 PM