Slowly but surely, Bitcoin is going green. New data shows the percentage of the global BTC mining industry running on renewable power increased by 1% to 58.5% in the fourth quarter of 2021.
2021, the BMC is a voluntary global forum of Bitcoin mining companies such as Bit Digital, BitFury, Bitfarms and Atlas Mining, and other industry organizations.“This quarter we saw the trend continue with dramatic improvements to Bitcoin mining energy efficiency & sustainability due to advances in semiconductor technology, the rapid expansion of North American mining, the China Exodus, and worldwide rotation toward sustainable energy and modern mining techniques.
The voluntary survey compiled sustainable energy information from miners accounting for more than 46% of the global Bitcoin network. According to the survey, the members of the Mining Council itself are harnessing electricity with a sustainable energy mix of 66.1%. The self-reported data was then used to estimate the global Bitcoin mining industry’s sustainable energy mix was approximately 58.5% during Q4, an increase of one percentage point on Q3's figure. The industry’s estimated technological efficiency grew by 9% as well, to 19.3 petahash per MW.
Co-founder of Core Scientific and the BMC Darin Feinstein noted that the hashrate of the BMC participating members increased by 77% in Q4.The environmental impacts of Bitcoin mining have been heatedly debated for some time and U.S Congress is now preparing to take a thorough look at the energy impacts of Proof of Work blockchains.
Bitcoin miners are increasingly looking for sustainable energy sources as the pressure mounts from the public, shareholders and governments. Investors like Shark Tank star Kevin O’Leary,One avenue that could be
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