A new study by Power Compare shows that the current consumption of electricity for digital currency is far more than that of more than 20 European countries. Only in some countries have more electricity consumption than Ireland, Croatia, Serbia, Slovakia and Iceland. Interestingly, only three countries in Africa are currently consuming more electricity than Bitcoin: South Africa, Ai And Algeria. According to Power Compare, Bitcoin's annual estimated electricity consumption is about 29.05 TWh - equivalent to 0.13% of global electricity demand.