Clean Energy Powers More Than Half Of Bitcoin Mining Operations

It can no longer be claimed that Bitcoin is bad for the environment; mining using sustainable energy sources has now increased to over 50% since 2021:

Clean Energy Powers More than Half of Bitcoin Mining Operations

Entrepreneur and crypto supporter Daniel Batten offered information on energy consumption trends concerning crypto mining. One of the highlights is that Bitcoin has grown its sustainable energy mix to 6.2% per annum from January 2020. He notes that the growth rate is faster than any major industry, while the 52.6% sustainable mix also outcompetes other industries.

The amount of sustainable mining powering Bitcoin mining has steadily increased since 2021. At the time, it amounted to about 35%. It was also around that time the discussions related to Bitcoin’s energy consumption began taking center stage.

Norway is a standout performer in this regard, having the cleanest energy powering Bitcoin mining. The country produces about 1% of the total Bitcoin hash rate.

Those talks about Bitcoin’s energy have played a role in regulations, with the European Union (EU) being particularly mindful of it. It even suggested that it may shut down Bitcoin mining in order to provide more energy elsewhere as a result of the stress from the Russian invasion of Ukraine.

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Master Asked on February 21, 2023 in Bitcoin.
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