In general, bitcoin uses a lot of energy because of transactions on the Bitcoin network. Note Some components of the or ASIC graphics cards may consumption, the kind of energy repurposed for other tasks.
South China Morning Post.
Likewise, the comparison is also flawed because we can stop mining for real gold, whereas Bitcoin would simply stop existing without active mining. Since electricity costs are a major component of the ongoing costs, it follows that the total electricity consumption of the Bitcoin network must be related to miner income as well. Because of this, the Bitcoin network can consume several times as much electrical energy as the entire country of Hungary which consumes 43 TWh annually. The miner who discovers a solution to the puzzle first receives the mining rewards and the probability that a participant will be the one to discover the solution is equal to the proportion of the total mining power on the network.
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