Data show: Bitcoin network consumes nearly every year in electricity consumption in countries such as Belgium

According to the latest data from the University of Cambridge, the Bitcoin network consumes about 7.979 billion kWh per year (Twh). In 2016, statistics show that the use of electricity in Belgium is 8.21 billion kWh, compared with 8.28 billion kWh in Finland and 7.83 billion kWh in the Philippines.