59,5% of the energy used by Bitcoin miners comes from renewable sources, according to the latest report published by the Bitcoin Mining Council.
New report A global review of Bitcoin mining data, published by the Bitcoin Mining Council, notes that Bitcoin miners' renewable energy mix now stands at 59,5%.
The report's data, corresponding to the second quarter, indicates that the network's hash rate blockchain experienced a year-on-year growth of 137%, while energy consumption increased by only 63%. This, the organization explained, was thanks to an increase in the energy efficiency of the network, of 46% year-on-year.
The organization also indicated that the combination of renewable and sustainable energy in Bitcoin mining experienced a year-on-year increase of 6%.
Source: BMC
Bitcoin miners are increasingly adopting renewable energy sources, such as solar photovoltaics, to sustainably maintain their network operations.
Furthermore, current technological advances are driving the creation of new and more efficient semiconductors and crypto mining equipment, such as the node announced by Samsung earlier this month, which allow companies engaged in this industry to operate in an environmentally friendly manner.
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Bitcoin consumes less than 1% of the world's energy
The latest report from the Bitcoin Mining Council also shows that the Bitcoin network consumes just 0,15% of global energy, at approximately 253 terawatt hours (TWh) per year.
Based on this data, the organization claims that global energy use in Bitcoin mining is practically insignificant, debunking several of the negative narratives that have been created around this factor. Likewise, the cryptomining organization indicated that mining bitcoins is among the most sustainable activities in the world.
Source: BMC
The data revealed by the Bitcoin Mining Council coincides with the estimates made by the Centre for Alternative Finance at the University of Cambridge.
In its Bitcoin Consumption Index, the research center indicates that network operations are consuming less than 0,1% of the world's energy.
Bitcoin mining is becoming more efficient
Michael Saylor, one of the key partners of the Bitcoin Mining Council, shared the review report on his Twitter account, highlighting the increasing use of renewable energy in BTC mining.
Saylor also highlighted that Bitcoin is one of the cleanest and most efficient industries in the world.
On the other hand, Darin Feinstein, co-founder of Core Scientific and member of BMC, stated that it is important for the world to get the real data on the amount of energy used and carbon released by the Bitcoin network.
According to the report, BTC mining has produced only 0,086% of the total carbon produced in the world in the last year.
The Bitcoin Mining Council is an organization comprised of 44 of the largest companies and enterprises in the Bitcoin industry, including Argo Blockchain, Poolin, and Marathon Digital Holdings, along with MicroStrategy, the largest institutional investor in Bitcoin globally.
This organization was founded in 2021 with the goal of promoting transparency in the Bitcoin mining industry.
Since its founding, the Bitcoin Mining Council has published 5 quarterly reports on energy consumption and the adoption of renewable energy sources among Bitcoin miners.
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