Bitcoin Miners Consume 56% Sustainable Energy – Bitcoin Mining Council
According to a report from the Bitcoin Mining Council, the global mining industry for the first cryptocurrency currently achieved 56% sustainable energy consumption in the second quarter.
In a press release from the Council, Bitcoin mining is becoming more efficient and uses negligible amounts of energy. The estimate was based on a survey of the network’s miners.
The main goal of the Bitcoin Mining Council is to provide transparent and verifiable data on the use of renewable energy sources in the industry.
During the survey, participants were asked only three questions:
“How much electricity does your entire fleet consume today? What is the total percentage of sustainable electricity in your fleet’s electricity mix today? What is the total cumulative hash rate of your park today? ”
But the reliability of the data obtained from the survey of miners is questionable, since the results of the survey depended on the honesty of the people who took it.
According to the Council, sustainable electricity is a product of hydro, wind, solar, nuclear, geothermal and carbon based production with net carbon credits.