it and take its place. Bitcoin's network can't handle many more transactions (though a recent software upgrade, yet to take full effect, should improve this). Proposed improvements, like SegWit2x, do promise to increase the number of transactions Bitcoin can handle by at least double, and decrease network congestion. Bitcoin uses x energy in total, and this energy verifies/secures roughly 300k transactions per day. But we can run a quick calculation of the minimum energy Bitcoin could be using, assuming that all miners are running the most efficient hardware with no efficiency losses due to waste heat. Even as an unrealistic lower boundary, this figure is high: As senior economist Teunis Brosens from Dutch bank ING wrote, it's enough to power his own home in the Netherlands for nearly two weeks. Well, it probably isn't. In fact, you could theoretically run Bitcoin's entire network on a dozen 10-year old PCs. Furthermore, energy consumption issues can potentially be fixed with a future upgrade of the Bitcoin software, which is easier than, say, reducing the energy footprint of Ireland.
At first that number might seem alarming, however the key piece of how to join bitcoin network this claim is from the perspective of the average American. Ireland and it induces a collective gasp. Some of these stats look horrific: Bitcoin's current energy consumption.2 terawatt -hours (TWh which is more than 63 specific countries, and a single Bitcoin transaction consumes enough energy to power nearly.S. This hypothetical network yields 66 million kWh of combined daily energy consumption that we can average with our all-S9 calculation.8 million kWh to settle at an adjusted.9 million kWh. There are two reasons for this. Instead of starting with revenues in USD, lets run this by first principles. Sooner or later, Bitcoin will have to adapt.