How many barrels of oil do you need to produce one bitcoin?

The cost of mining bitcoins has often been criticized by opponents of crypto-currencies. Let's see how much 1 BTC costs in barrels of oil. The industry of crypto currency is developing at a frantic pace and bitcoin continues to be the driver. It is on its extraction that most of the miners are oriented. The cost of bitcoin and relative stability of growth attract more and more people to this sector. The complexity of the network is growing and getting bitcoin is getting harder and more expensive. More and more new capacities are being introduced, which consume more and more electricity, for the production of which, mainly, oil is burned.

According to the latest data, the extraction of bitcoin consumes 22.5 TWh of energy per year, which is equivalent to 13,239,916 barrels of oil. Given that every 10 minutes there are new 12.5 bitcoins, then as a result of simple calculations it turns out that the production of one bitcoin takes 20 barrels of oil. and since today the cost of one bitcoin is more than 100 barrels of oil (in equivalent), the profit in this business is obvious.
Nevertheless, despite all the attractiveness of mining, for the environment this leads to serious consequences. Therefore, it is necessary now to look for ways to reduce the dependence of bitcoin on oil combustion. In order to imagine how much consumes the bitcoin network, there is no need to go far beyond the example. The whole VISA network consumes 40 times less electricity. Although the capitalization of bitcoin is almost on the heels of the world's largest companies.
Looking at these figures, it is not surprising that bitcoin mining has concentrated in countries with cheap electricity such as China, or in countries where energy is derived from renewable sources such as Iceland, where it is also rather cold, which also plays in favor of mining, since it is necessary to spend less money on cooling equipment, which in turn further reduces the production cost of crypto-currency.