Bitcoin Mining Industry Now Majorly Relies on Sustainable Energy Resources

8:05 am, Wed, 27 April 22

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Last year, Bitcoin faced a lot of criticism from organizations around the world as the impact of Bitcoin mining on the environment was questioned. This also negatively affected the price of the flagship crypto asset for some time.

However, after China’s crackdown on mining operations in the country, the miners moved to other crypto-friendly countries and found sustainable energy sources to carry out the operations.

This presented new opportunities to the miners and also brought a huge change in terms of how Bitcoin was being mined in the world.

Now, to the delight of crypto enthusiasts in BTC’s corner, more than half of Bitcoin mining is being done by using renewable and sustainable energy sources. The data was revealed through a survey, which is addressed in more detail below.

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The Survey by Bitcoin Mining Council (BMC)

The Bitcoin Mining Council (BMC) is a group of 44 BTC mining companies. The council is supported by MicroStrategy’s CEO Michael Saylor and it recently revealed the findings of a quarterly survey.

According to the survey, the global BTC mining industry heavily relies on clean energy sources for mining operations.

Nearly 60% of the mining operations are using sustainable energy sources. Therefore, if someone asks, “is Bitcoin mining eco-friendly” then it can be suggested that it is becoming so more and more as new energy sources are explored as well.

From January to March, the sustainable energy mix in the BTC mining industry was successfully at 58.4%. This figure was at 36.8% last year, therefore, a significant increase in the usage of clean energy can be seen.

Data from 50% of the global Bitcoin network was used to calculate the result mentioned above.

The BMC also shared a statement, according to which, BTC mining has become “one of the most sustainable industries globally.” This is all because of the innovative technologies and renewable power sources such as solar and wind energy.

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