One recently released study conducted by Alex de Vries says that Bitcoin mining consumes 24 THw of energy or as much as Ireland.
To make matters worse, the study estimates that Bitcoin’s energy use is doubling every six months.
By the end of 2018, Bitcoin could use as much as 67 THw or the annual energy consumption of the Czech Republic.
While those numbers might seem high, things may not be as bad as they sound.
For starters, one of the main issues with Bitcoin mining is that it was originally powered in large part by coal plants in China.
In recent years, however, China has worked to rein in its pollution problem, and many Bitcoin mining operations have moved to countries which make use of cleaner energy.