Report: Bitcoin energy consumption levels have reached historical peaks

On August 14th, the Bitcoin Workload Proof (PoW) consensus system was the source of some environmental controversy. Although it is difficult to accurately estimate how much power Bitcoin will consume, the two independent indicator digital economists (Digiconomist's Bitcoin Energy Consumption Index and the University of Cambridge's Alternative Finance Research Center estimate that Bitcoin has reached this summer. Even more than its highest level of energy consumption ever. Despite their differences (Digiconomist is slightly higher), both sides believe that this year's energy consumption peaked in early or mid-July and remains near the historical high of 60-75 TWh per year. According to Cambridge, this means that bitcoin consumes about 25% of the world's total energy consumption. For Bitcoin, this news is a bit embarrassing, because the timing of its peak energy consumption just hits the highest temperature period caused by climate change caused by human activities. However, the energy consumption of a Bitcoin network is not entirely an indicator of its impact on the climate.