Each Bitcoin mining consumes 968 kWh of electricity, but it’s still a good deal

According to digiconomist's assessment, global Bitcoin mining consumed 188 million kWh of electricity on May 25, 2018, equivalent to an annual consumption of 68.81 billion kWh, which is six times the consumption level in May 2017 (11.57 billion kWh).

The total electricity consumption of Bitcoin mining in the world is equivalent to that of the Czech Republic, accounting for 0.31% of global electricity consumption. On average, each Bitcoin transaction consumes 968 kWh of electricity, which is equivalent to the daily electricity consumption of 32 households in the United States. Currently, Bitcoin's annual carbon emissions are equivalent to 33.85 million tons, and each Bitcoin transaction emits an average of 474 kilograms of carbon dioxide.

Although it consumes a lot of electricity and produces a lot of emissions, the global mining gross revenue is 5.824 billion yuan and the cost is 3.454 billion yuan, so it is still a good business.