How much is Bitcoin worth?

Cryptocurrency mining requires enormous computing power and costs.of electricity for the maintenance of which continues to grow at a fairly high rate, which directly affects the energy system of the planet.
As you know, Bitcoin is produced on farms.
Farms consume electricity. In summary, the value of Bitcoin can stem from the cost of electricity spent on it.
So, in 2018, the Bitcoin network consumed about 30.1 billion kWh.
The average cost of electricity is estimated at 8.20 US cents per … kWh
On January 13, 2018, Bitcoin number 16,800,000 was mined.
Total 30,100,000,000 x 8.20 = 246,820,000,000 cents or $2,468,200,000

For each Bitcoin, 2,468,200,000 / 16,800,000 = $ 14.69 per year

Mining Bitcoin and other cryptocurrencies is more energy intensive than mining. American scientists came to this conclusion, writes Nature Sustainability.

Tolaimat noted that in 2018, Bitcoin mining required 19 MJ of energy per dollar generated, and for Ethereum, Litecoin and Monero - 9, 15 and 14 MJ, respectively.

At the same time, the consumption for the extraction of gold, platinum and rare earth metals was 6, 5 and 9 MJ. A more energy-intensive process than cryptocurrency mining is the production of aluminum (110 MJ).

In 2018, the Bitcoin network consumed about 30.1 billion kWh - more than Denmark's electricity consumption during the same period.

However, the energy intensity of the Bitcoin network is still impressive. For example, the amount of electricity consumed per year by BTC miners is approximately comparable to the energy consumption of Bangladesh or Israel.