Digiconomist's Bitcoin Energy Consumption Index is showing
that energy consumed by Bitcoin mining now exceeds what is used by countries like Ireland, Hungary, Oman, and Lebanon. Bitcoin uses about as much power as the entire country of Morocco and slightly less than Bulgaria. If Bitcoin were a country, it would have the 61st highest energy consumption. While it's possible mining hardware will become more efficient, the calculations for Bitcoin transactions will only become more complex. As long as Bitcoin value keeps increasing, so too will the amount of energy going to verifying transactions. Meanwhile, other cryptocurrencies like Etherium and SafeCoin are on the rise. That means more CPUs and GPUs churning away in server rooms, even if Bitcoin drops in value.