46% of Bitcoin miners use renewable energy sources to mine Bitcoin: BMC
Bitcoin Mining Council (BMC), recently announced the results of its fourth quarter survey highlighting how Bitcoin mining is gradually embracing sustainable energy use. According to the last survey of the fourth quarter reportthe percentage of the global Bitcoin mining industry that deploys renewable resources to mine Bitcoin has increased from 1% to 58.5%.
Sustainable Bitcoin Mining
The survey conducted by BMC took into account three parameters, mainly the sustainable energy mix, technological efficiency and electricity consumption. New findings reported by BMC depict a marked improvement in Bitcoin’s process mining. According to the official Data, nearly 46% of Bitcoin miners used sustainable energy sources to mine Bitcoin. The new report also observed that the hashrate of participating BMC members also increased by 77% in the fourth quarter.
Q4 data further revealed that the total sustainable energy mix used in cryptocurrency mining increased to 66.1%, while the technological efficiency of Bitcoin mining improved significantly. , showing a 9% improvement since the last Q3 survey report.
Michael Saylor, founder and CEO of Microstrategy and a crucial member of the Bitcoin Mining Council, took to Twitter to announce the results of the BMC Q4 survey.
Q4 #Bitcoins Mining Council survey confirms improvements in sustainable energy mix and technology efficiency. The estimated sustainable energy mix was 58.5%. Join us at 5 p.m. ET today for a full briefing.https://t.co/t1gTZV9GtT
— Michael Saylor⚡️ (@saylor) January 18, 2022
“This quarter, we have seen the trend continue with dramatic improvements in the energy efficiency and sustainability of Bitcoin mining due to advances in semiconductor technology, the rapid expansion of North American mining, the Chinese exodus, and the global shift toward sustainable energy and modern mining techniques.” as Michael Saylor said
Darin Feinstein, co-founder of Core Scientific and BMC also reiterated similar sentiments noting the lasting changes seen in the Bitcoin mining process.
“The hashrate of participating BMC members increased by 77% from Q3 to Q4 2021, reinforcing that the digital mining industry recognizes the valuable data the BMC is bringing to light on the reality of how which we operate sustainably,” Feinstein added.
Founded in 2021, Bitcoin mining advice is a global forum of open bitcoin miners that helps spread transparent ideas and vision to educate the masses about the various benefits of bitcoin and bitcoin mining.
Bitcoin mining proof of work Consensus has long been questioned due to its high energy consumption requirements and the fact that it has a negative impact on the environment. Since then, Bitcoin miners have been looking for several sustainable means by which they can mine Bitcoin without negative impact on the environment.
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