The energy used to mine Bitcoin (BTC) would now be 60% renewable

Bitcoin (BTC) is often criticized for its high electricity costs, but the payment network is gradually greening up. A new report from the Bitcoin Mining Council indicates that the energy used to mine the largest cryptocurrency is now 60% renewable.

The renewable increasingly used to mine Bitcoin

This is a global trend, and cryptocurrency is no exception to the rule: the electricity used is increasingly coming from β€œgreen” sources. A report from the Bitcoin Mining Council indicates that Bitcoin is mined at 59.5% from renewable energy :

“[La part] a 6% increase over the year, […] what makes youne of the most sustainable industries globally.Β»

Another positive point for cryptocurrency: its energy efficiency, i.e. its ability to operate with as little electricity as possible, has also increased. Over a year, itThis measurement has thus increased by 46%. To sum up: the Bitcoin network runs on greener electricity, and it needs less and less for the same performance.

Comparison of the share of renewable for Bitcoin and different countries of the world

πŸ‘‰ Find our guide – How to become a Bitcoin miner?

cryptoast logo

Discover Just Mining

toaster icon

Investing in cryptocurrencies is risky (learn more)

A network that continues to evolve

The Bitcoin Mining Council was created by several major players in the industry, in order to combat the misconceptions that often circulate about the biggest cryptocurrency. According to Michael Saylor, CEO of MicroStrategy and president of the organization, the Bitcoin network continues to evolve and improve its efficiency :

In the second quarter of 2022, Bitcoin network hashrate and security increased by 137% compared to the previous year, with energy use only decreasing by 63%.Β»

Saylor cites several reasons for this development, including advances in the semiconductor industry, the exodus of Chinese miners to the United States, and the global increase in renewable energy.

πŸ‘‰ To go further – Bitcoin: mining, energy consumption and ecology

cryptoast logo

Discover our Private Group

Content with high added value and quick to consume

toaster icon

Bitcoin continues to green

A sensitive subject if ever there was one, the electricity costs of the Bitcoin network are often discussed at length. However, miners are strongly encouraged to use renewable energy. On the one hand because it is an omnipresent subject in the industry, and on the other because that it is often the least expensive electricity.

Whether we therefore consider that the energy burden of BTC mining is too high, or whether we justify it by its existential necessity, one thing is certain: the payment network continues to green.

πŸ‘‰ On the same subject – Kazakhstan: Bitcoin (BTC) miners will face a new tax

Newsletter 🍞

Get a crypto news recap every Sunday πŸ‘Œ And that’s it.

What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus using our privileges.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or additional loss following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

Leave a Comment