The electricity consumption of the Bitcoin cryptocurrency is bigger than that of Syria, Jordan, Yemen, Oman and Bahrain, a report has revealed. The Bitcoin Energy Consumption Index (BECI) maintained by Digiconomist, found that every individual Bitcoin transaction eats up 275 kWh of electricity, and the latest estimate of Bitcoin’s total annual energy consumption is in the vicinity of 29.05 TWh.

That is the equivalent of 0.13% of the entire world’s annual energy consumption, according to the Big Think news site. The study also found that Bitcoin “consumes more energy on an annual basis than all but three of the 54 countries in Africa.

Only Algeria, Egypt and South Africa out-consume the virtual currency. But not otherwise large and important countries like Nigeria, DR Congo or Kenya.”  Bitcoin hit a three-week high on Tuesday and has surged nearly 100 percent from its lowest level this year, as its …

Officials of the central bank have warned all other commercial banks in the country to be wary of bitcoin users.The … Two entrepreneurs from the UK have sold 50 luxury apartments in Dubai that they originally promised to put on offer for Read more from english.alarabiya.net…

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