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Bitcoin mining consumes about 0.6% of global electricity consumption [0]. According to TFA, global mining dropped by 50% from the issues above, so 0.3% of globa
by delecti 6y ago
Bitcoin mining consumes about 0.6% of global electricity consumption [0]. According to TFA, global mining dropped by 50% from the issues above, so 0.3% of global electricity consumption is in China. China in total produced 5920 TWh in 2016 (last year I could easily get data [1]), out of a global total of 21877 TWh in that same year [2]. China's been growing faster than global trends, but that means that in 2016 they generated ~27% of global electricity (5920/21877). That means your ballpark of about 1% of China's power generation being used on bitcoin (0.3%/27%) is pretty spot on.
[0] https://techcrunch.com/2021/03/21/the-debate-about-cryptocurrency-and-energy-consumption/#:~:text=According%20to%20the%20University%20of,0.6%25%20of%20global%20electricity%20consumption https://techcrunch.com/2021/03/21/the-debate-about-cryptocur....
[1] https://en.wikipedia.org/wiki/Electricity_sector_in_China https://en.wikipedia.org/wiki/Electricity_sector_in_China
[2] https://www.statista.com/statistics/280704/world-power-consumption/ https://www.statista.com/statistics/280704/world-power-consu...