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According to Ars Technica:

One estimate suggests the Bitcoin network consumes as much energy as Denmark.

There are other sources that make similar claims:

The Bitcoin Energy Consumption Index tracker puts Bitcoin’s current estimated annual energy use at almost 32 terawatt-hours, roughly equivalent to Serbia’s yearly electricity consumption and ahead of at least 159 other countries, including Ireland and most nations in Africa.

The BitCoin Energy Consumption Index is apparently a common source. However, it seems that this article uses a lot of assumptions.

Does the Bitcoin network use about as much energy as Denmark or Ireland, as of late 2017?

Oddthinking
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    This question is kind of circular. The claim is that the Bitcoin Energy Consumption Index estimates the usage of the Bitcoin network, based on a number of stated assumptions. "Note that one may reach different conclusions on applying different assumptions." What would you accept as confirmation or refutation of this? – Oddthinking Dec 08 '17 at 08:25
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    Related: [Does one transaction on Bitcoin require 215 kWh?](https://skeptics.stackexchange.com/questions/39910). – DevSolar Dec 08 '17 at 08:57
  • A better statement might have been something like *"the Bitcoin network is estimated to consume as much **electricity** as Denmark"* - around 110 PJ each year. Denmark's **energy consumption** is much higher at around 700-750 PJ a year – Henry Dec 08 '17 at 15:49
  • Ideally all electric heaters will run computations one day. ;) Until then, here is an attempt at a more balanced article from a bitcoin follower: https://blog.bitcoin.org.hk/bitcoin-mining-and-energy-consumption-4526d4b56186 – herzmeister Dec 12 '17 at 20:48

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