59.4% of bitcoin mining energy is now green

The Bitcoin Mining Council (BMC) has new dates released on bitcoin (BTC) miners. This shows that the efficiency of BTC miners has increased considerably and that the consumption of sustainable energy sources has also increased further.

60% bitcoin miner energy is green

The BMC is an organization consisting of a large group of bitcoin mining companies. In total, all members produce a hash rate of 105 exahashes per second (EH/s), which represents 45.4% of Bitcoin’s total computing power.

The data that the organization shares is intended to provide insight into the consumption of and developments at BTC miners. Thus, misconceptions and misinformation must be eradicated.

One of the good developments that the BMC is highlighting in the figures for the third quarter of 2022 is the increase in the use of green energy. For example, it is claimed that 67.8% of the members of the council use sustainable energy sources for their operations.

Based on these figures, it is estimated that all miners worldwide use green energy for 59.4%. That is an increase of 3% compared to the third quarter of 2021.

Bitcoin mining efficiency is also increasing

While the use of green energy is reportedly increasing, the efficiency of BTC miners is also increasing. The more efficient a miner is, the more profitable it can be. BTC mining manufacturers therefore try to make their machines as efficient as possible.

According to the BMC, the efficiency of the network has thus increased by 23% compared to last year. This means that miners use less and less energy for their operations.

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Bitfarms Chief Mining Officer, one of the members of the BMC, says of the numbers:

“Year over year, Bitcoin security increased by 73% and mining efficiency by 23%. The Bitcoin network has never been stronger”

For Bitcoin critics, the consumption of Bitcoin is one of the arguments against mining. Recently, the bitcoin mining news reported that Greenpeace has taken a hard line at the network.

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