Q2 Saw Over 59% of Bitcoin Mining on Sustainable Energy Mix – Bitcoin Mining Council

Q2 Saw Over 59% of Bitcoin Mining on Sustainable Energy Mix - Bitcoin Mining Council
Source: AdobeStock / LIGHTFIELD STUDIOS

The international Bitcoin (BTC) mining trade had a sustainable electrical energy combine of 59.5% through the second quarter of the yr, or barely up in contrast with the primary quarter, in accordance to the most recent quarterly survey performed by the Bitcoin Mining Council.

The survey, which collected knowledge from over 50% of the worldwide Bitcoin mining community, representing 107.7 exahash (EH), mentioned that,

“The members of the [Bitcoin Mining Council] and members within the survey are at present using electrical energy with a 66.8% sustainable energy combine.”

It is, due to this fact, estimated that the worldwide bitcoin mining trade’s sustainable electrical energy combine is now 59.5%, and that it had elevated some 6% between Q2 2021 and Q2 2022. This, mentioned the Council, makes it “one of the most sustainable industries globally.”

Also, it’s estimated that the worldwide Bitcoin Network’s technological effectivity grew by 46% year-on-year, from 14.4 EH per gigawatt (GW) within the second quarter of 2021 to 21.1 EH per GW within the second quarter of this yr.

The Bitcoin Mining Council is a voluntary discussion board of crypto mining firms spearheaded by MicroStrategy CEO and Bitcoin maximalist Michael Saylor. They mentioned that the council’s membership hashrate elevated to 108 EH in Q2 2022, representing 50.5% of the worldwide Bitcoin mining community.

“In the second quarter of 2022, the hashrate and associated safety of the Bitcoin Network improved by 137% year-on-year whereas vitality utilization solely elevated 63%,” Saylor mentioned and added:

“We noticed a 46% year-on-year enhance in effectivity on account of advances in semiconductor know-how, the fast enlargement of North American mining, the China Exodus, and the worldwide adoption of sustainable vitality and fashionable bitcoin mining strategies.”

In an accompanying briefing, Saylor additionally mentioned that Bitcoin mining accounts for simply 0.09% of the 34.8 billion metric tons (BMT) of carbon emissions estimated to be produced globally and consumed lower than 0.15% of the worldwide vitality provide.

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Compiled by Coinbold

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