Bitcoin aims to get cleaner and cleaner. According to the latest report from the Bitcoin Mining Council (BMC), 68% of the grid's energy consumption comes from renewable sources.
According to the report, renewable energy use has grown 7% in Bitcoin mining, compared to the latest report released mid-year.
The energy optimization of Bitcoin
As Michael Saylor, president of MicroStrategy and founder of the BMC explains, "Bitcoin holds 99% of the world hashrate used in cryptocurrencies," making it the "safest network in the world". Bitcoin's energy optimization therefore has a global impact on the energy consumption of digital currencies.
However, in the presentation of the report, Saylor clarifies that - according to data from his organization - Bitcoin represents only 0,16% of the world's electricity consumption. This is in addition to the fact that the carbon dioxide emissions generated by the grid represent only 0,1% of the global average.
Between the latest report, released in mid-June, and the current one, the Bitcoin network has increased its carbon emissions by 0,014%, meaning its carbon footprint has increased slightly. However, it should be remembered that the hashrate grew by 40% over the same period, reaching all-time highs in the mining power of the network. From these data it can be concluded that, in relative terms, the carbon emissions from Bitcoin mining are decreasing.
The reasons were reported on our site
On the one hand, there is a commitment by some mining organizations to reduce the environmental impact of their business. Also, there is a question of incentives. Miners are looking for cheap energy to be more profitable. These include some renewable energies and waste energy from other industries.
It is interesting to note that the presentation of the report, which took place on October 18, coincides with the recent attacks on Bitcoin by the Greenpeace organization, which accuses the digital currency of not being environmentally friendly. Many bitcoiners, in turn, argue that Greenpeace's claims lack solid scientific backing.
The report of the Council of Miners is based on a survey conducted among the members of the Council, which is made up of more than 50 companies and individual miners. According to the BMC website, the miners that make up this non-profit organization hold more than 45% of the entire Bitcoin hashrate, out of 105 EH / s. In other words, it is a fairly representative sample of the Bitcoin ecosystem.
