Cryptocurrencies have been experiencing some pretty exciting times recently, and none more so than Bitcoin. Valued so recently (in human terms, rather than stock market fantasy land) at over $20,000, BTC hit a new low of just over $6,000 this week, almost (but not quite) breaking that barrier to drop down to levels unseen since early November.

However, what is concerning people outside the crypto community, is not the bursting bubble but the ecological impact of its production. Cryptocurrency mining requires phenomenal computer power to create the actual digital token. Hashing each coin consumes vast quantities of electricity, and the more cryptocurrency takes hold in the real world, the more electricity it\'s going to gobble up.

Some estimates say that every Bitcoin transaction consumes 200 KWh (Kilowatt hours), as much energy as 8.49 American households (high energy consumers, it must be said). Others say it would supply one average household for a month or two years.

Some estimates suggest that 0.19% of the world\'s electricity is used daily by Bitcoin and Ethereum, and that together their annual energy consumption is 42.67 TWh (TeraWatt Hours). If this is true, these networks consume more energy every day than 159 listed small countries, such as Ireland or Cyprus. While people may argue over the precise figures, the general consensus is that A LOT of energy is being used.