The Bitcoin industry presently <a href="https://cointelegraph.com/news/bitcoin-mining-uses-more-power-than-most-african-countries"> needs mining to survive</a>. In order to harness the virtual currency, power must be consumed. While there are already a plethora of mining operations throughout the world, more are likely to appear in the next few years as cryptocurrencies like Bitcoin become more widely accepted. 

We're talking a lot of power here. Power Compare, a UK-based company, said the rise in the Bitcoin price is tied to the rise in the power supply, to the tune of 31 terawatt-hours annually. According to a <a href="https://digiconomist.net/bitcoin-energy-consumption"> report</a>, that translates to $9.7 billion a year.

![](https://steemitimages.com/DQmRHi2C3dny4kGFtP9d4qEuoN6aJ8gbDa8vqvNFH1ebqTF/image.png)
Source:bitcoin.com

Mining for bitcoin now constitutes 0.13 percent of the worldwide energy consumption, ranking it the world’s 61st highest power consumer. That's more than most African countries.

![](https://steemitimages.com/DQmfKNixkgFnbNcpZ5t8nMLyhWRuk2iNsDcREoMubqyVePt/image.png)
Source: Forbes.com

This has to cease at some point and really is a waste of power. There must be a better solution that benefits Bitcoin and the larger cryptocurrency community!