PROJECT PHOENIX8

Garbage-to-Bitcoin? Roberto Hroval, Project Phoenix8: “We Already Have a Fully Working Technology…”

Love it or hate it, but you can’t deny it: Bitcoin is a huge, nasty, energy-consuming beast. The latest estimates from the University of Cambridge indicate that annualised consumption, according to CBCI (Cambridge Bitcoin Electricity Consumption Index), amounts to 60.36 TWh.

This is more than what some countries consume. Switzerland, for example, uses 58 TWh annually, Austria 72,2 TWh, and the Czech Republic 68,3 TWh.

Some other estimates are even worse. According to Digiconomist.net, a website that publishes Bitcoin Energy Consumption Index, the annual energy consumption for mining Bitcoin is 73,1 TWh.

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