46% Bitcoin miners employ renewable energy sources to mine Bitcoin: BMC

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Bit­coin Min­ing Coun­cil (BMC), recent­ly announced the results from its quar­ter fourth sur­vey high­light­ing how Bit­coin min­ing is steadi­ly adopt­ing sus­tain­able pow­er usage. As per the lat­est Q4 sur­vey report, the per­cent­age of the glob­al Bit­coin min­ing indus­try deploy­ing renew­able resources to mine Bit­coin has increased from 1% to a notable 58.5%. 

Sustainable Bitcoin mining 

The sur­vey con­duct­ed by BMC con­sid­ered three met­rics, main­ly sus­tain­able pow­er mix, tech­no­log­i­cal effi­cien­cy, and elec­tric­i­ty con­sump­tion. The fresh finds report­ed by BMC depict a stark improve­ment in the process of Bit­coin min­ing. As per the offi­cial data, near­ly 46% of Bit­coin min­ers were using sus­tain­able pow­er sources to mine Bit­coin. The new report also observed that the hashrate of BMC par­tic­i­pat­ing mem­bers has also increased by 77% in Q4. 

The Q4 data fur­ther revealed the total sus­tain­able pow­er mix used in min­ing cryp­tocur­ren­cy has increased to 66.1%, while Bit­coin min­ing tech­no­log­i­cal effi­cien­cy has enhanced tremen­dous­ly, demon­strat­ing an improve­ment of 9% since the last Q3 sur­vey report. 

Michael Say­lor, the founder, and CEO of Micros­trat­e­gy and cru­cial mem­ber of Bit­coin Min­ing Coun­cil took to Twit­ter to announce the BMC Q4 sur­vey findings. 

“This quar­ter we saw the trend con­tin­ue with dra­mat­ic improve­ments to Bit­coin min­ing ener­gy effi­cien­cy & sus­tain­abil­i­ty due to advances in semi­con­duc­tor tech­nol­o­gy, the rapid expan­sion of North Amer­i­can min­ing, the Chi­na Exo­dus, and world­wide rota­tion toward sus­tain­able ener­gy & mod­ern min­ing tech­niques.” as stat­ed by Michael Saylor 

Darin Fein­stein, Co-founder of Core Sci­en­tif­ic and BMC also reit­er­at­ed sim­i­lar sen­ti­ments not­ing the sus­tain­able changes observed in the Bit­coin min­ing process. 

“BMC par­tic­i­pat­ing mem­ber­ship hashrate increased 77% from Q3 to Q4 2021, rein­forc­ing that the dig­i­tal min­ing sec­tor is rec­og­niz­ing the valu­able data that the BMC is bring­ing to light around the real­i­ty of how we oper­ate sus­tain­ably” Fein­stein added

Found­ed in 2021, Bit­coin Min­ing Coun­cil is a glob­al forum of open Bit­coin min­ers that helps prop­a­gate trans­par­ent ideas and vision to edu­cate the mass­es on var­i­ous ben­e­fits of Bit­coin and Bit­coin mining. 

Bit­coin mining’s proof of work con­sen­sus has long been blamed due to its exten­sive ener­gy con­sump­tion require­ments and the fact that it neg­a­tive­ly impacts the envi­ron­ment. Bit­coin min­ers since then have been look­ing for mul­ti­ple sus­tain­able ways through which they can mine Bit­coin with­out neg­a­tive­ly impact­ing the environment. 

Post­ed In: Bit­coin, Min­ing
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