The use of green energy for BTC mining has increased 52% this year

Green energy use for BTC mining has increased 52% this year as the organization founded to promote renewable energy released a report on the state of the mining industry, as we can see more on the latest bitcoin news today.

The Bitcoin Mining Council’s results look promising at first glance, while the report states that sustainable energy consumption has increased from Q1 to Q2 2021 with a 15 percent increase in measured network power by PH / MW. It was also revealed that members reported that 67% of all green electricity consumption used for BTC mining comes from sustainable sources, ensuring that the environmental impact is less than one of the industries, the industry in others Countries like China concentrate the majority of the BTC hash, with a large proportion of miners using electricity from coal-fired power plants.

Additional data published in the report suggests that concerns about the environmental impact of BTC mining may be overestimated. For example, the network’s energy consumption accounts for 0.007% of the total world and 56% of all global BTC mining that is based on sustainable energy. The BTC Mining Council began in response to concerns about the environmental impact of BTC mining, and when Musk announced on Twitter that Tesla would no longer accept BTC payments due to these issues, Bitcoin began to tumble, marking the beginning of the end of the uptrend which has lasted since the crash caused by the COVID pandemic.

The researchers’ approach was quite confusing as the data on sustainable energy use and efficiency gains were tracked through a three-question survey and literature review using internet sources. Another point to consider is that of Larry Cermak As Block’s research director, Cermak explains that after China’s crackdown on industry, there is a large exodus of miners trying to relocate to other regions. Some countries are trying to attract larger miners with the promise of low costs and the use of renewable energy. Miami relies on nuclear power, while Paraguay is trying to attract miners with cheap electricity. El Salvador is researching the use of volcanoes as well as an energy source, but there are reports that large Chinese mining companies are planning to relocate to a nearby country.

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