Bitcoin energy consumption calculator

btc_consumption.js

const US_CONSUMPTION = 3930;

const halvings = [
  new Date("2012.11.28").getTime(),
  new Date("2016.07.09").getTime(),
  new Date("2020.05.11").getTime(),
  ...new Array(30) // 30 more cycles until year 2140
    .fill(0)
    .map(
      (_, i) =>
        new Date("2020.05.11").getTime() + 210000 * 60 * 10 * 1000 * (i + 1)
    ),
];

const calc = ({ price, profit, cost, date, avgTXFee }) => {
  const timestamp = new Date(date).getTime();
  const maxTransactions = 7 * 60 * 10;

  const exponent = halvings.findIndex((x) => timestamp < x);

  const baseReward = exponent === -1 ? 0 : 50 / 2 ** exponent;

  const baseReward$ = baseReward * price;
  const feeReward$ = maxTransactions * avgTXFee;
  const reward = baseReward$ + feeReward$;

  const rewardsPerHour = reward * 6 * (1 - profit / 100); // 1 block every 10 minutes

  const consumptionPerHour = Math.floor(rewardsPerHour / cost);

  const consumptionPerYear = Math.floor(consumptionPerHour * 24 * 365);

  console.log(
    `
Date: ${date}
Base reward per block: ${baseReward} BTC
Fee rewards per block: ${feeReward$ / price} BTC
Total reward per block: ${baseReward + feeReward$ / price} BTC
BTC price: $${price}
Profit: ${profit}%
Cost per kWh: $${cost}

Consumption: ${(consumptionPerYear / 1e9).toFixed(3)} TWh / year
In comparison to US consumption: ${(
      (consumptionPerYear / 1e9 / US_CONSUMPTION) *
      100
    ).toFixed(1)} %

------------------------------------------------
`
  );
};

// Examples:

calc({
  price: 60000, // $
  profit: 5, // %
  cost: 0.11, // $ / kWh
  date: "2021.11.01", // RRRR.MM.DD
  avgTXFee: 10, // $
});

calc({
  price: 20000, // $
  profit: 5, // %
  cost: 0.11, // $ / kWh
  date: "2022.06.28", // RRRR.MM.DD
  avgTXFee: 1, // $
});

calc({
  price: 1000000, // $
  profit: 5, // %
  cost: 0.11, // $ / kWh
  date: "2025.01.01", // RRRR.MM.DD
  avgTXFee: 50, // $
});

/* Results
Date: 2021.11.01
Base reward per block: 6.25 BTC
Fee rewards per block: 0.7 BTC
Total reward per block: 6.95 BTC
BTC price: $60000
Profit: 5%
Cost per kWh: $0.11

Consumption: 189.288 TWh / year
In comparison to US consumption: 4.8 %

------------------------------------------------


Date: 2022.06.28
Base reward per block: 6.25 BTC
Fee rewards per block: 0.21 BTC
Total reward per block: 6.46 BTC
BTC price: $20000
Profit: 5%
Cost per kWh: $0.11

Consumption: 58.647 TWh / year
In comparison to US consumption: 1.5 %

------------------------------------------------


Date: 2025.01.01
Base reward per block: 3.125 BTC
Fee rewards per block: 0.21 BTC
Total reward per block: 3.335 BTC
BTC price: $1000000
Profit: 5%
Cost per kWh: $0.11

Consumption: 1513.847 TWh / year
In comparison to US consumption: 38.5 %

------------------------------------------------
*/