What this article is also not accounting for is that the Computers often become more efficient at using electricity as processors evolve. Last year people were estimating that the Bitcoin Network used more electricity than entire nations like Denmark, or Ireland.

The digiconimist article this content appears to be based on has come under serious questioning by analysts. Indeed, it appears the methodology for estimating energy consumption is presuming all costs are electricity based. That logic is horrifically flawed, as operating costs include the hardware and software development and acquisition costs.

FTA I linked:

Marc Bevand’s estimate that the annual consumption of the bitcoin network may be 4.12 TWh/year would mean that each bitcoin transaction requires the same amount of electricity used to power a typical American home for approximately 3.47 days, whereas the estimate of 4.73 TWh/year would mean each transaction requires enough power to run an American household for 3.98 days.

This is roughly 50% to 33% of the estimates given by Digiconimist, showing that, once again, the Luddites out there are just being alarmist.