According to the Bitcoin Mining Council (BMC) latest Q2 2022 report, around 60% of the electricity used to power Bitcoin (BTC) mining devices comes from renewable sources.
Bitcoin Mining Council (BMC) by 19 JulyAccording to the Q2 report published in , the global Bitcoin mining industry’s use of renewable energy 6% compared to the second quarter of 2021, 2% compared to the first quarter of 2022 increased and It was determined that it reached 59.5% in the last quarter. The council announced in its report “Bitcoin mining industry is one of the most sustainable industries in the world” placed it.
The council found that the increase in miners’ use of renewable energy coincided with an increase in mining efficiency. Bitcoin mining difficulty rate in the second quarter increased by 137% year-on-yearenergy consumption only 63%, miner productivity increased by 46%.
Alongside the report, the Council delivered the report on 19 July. Michael Saylor conducted an interview with him on the subject. microstrategy CEO Saylor made the following statements in the interview:
In the second quarter of 2022, Bitcoin mining efficiency increased by 46% compared to last year, and the renewable energy utilization rate reached 59.5%. The Bitcoin network is 137% more secure than last year, and besides, the energy usage rate has increased by only 63%. A cleaner and more efficient industry is hard to find.
In addition, this report announced that Bitcoin mining is estimated to be produced worldwide. 34.8 billion metric tons (BMt) carbon emissions only 0.09%created and only 0.15% of global energy supplyHe revealed that he had consumed his
In his briefing, Saylor noted that the predictions of Bitcoin opponents about the power consumption of the network have so far been wrong:
For a while, people predicted that Bitcoin would consume all the energy in the world. This cannot and will not happen due to efficiency dynamics.
According to the report, “As the Bitcoin price increases, ASIC Demand for mining equipment is also increasing, which is driving device innovation. More efficient devices are more cost-effective and profitable, forcing less profitable devices to disappear from the market, making the entire industry more efficient.”
Last week Senator Warren six U.S. lawmakers, including Environmental Protection Agency(EPA) and Ministry of Energyfrom the government by sending a letter to (DOE) require mining companies to report on their emissions and energy use. they had requested.