Proof-of-Work: Bitcoin’s Energy Crisis

Bitcoin miners use 54 teraWatt hour (194 400 000 000 000 000 Joules) of electricity every single year. That is enough to power the entire country of Hungary or New Zealand, or even 5 million houses in the US. With the price of Bitcoin continuously rising and the speculation only growing, the world will see many more people every year trying to crack the proof-of-work (PoW) algorithm.