Clean energy for the win. Nearly 60% of the electricity used to power Bitcoin mining machines comes from sustainable sources, according to the latest Q2 2022 report from the Bitcoin Mining Council. (Reporting via NewarBrian)
It also found that Bitcoin mining accounted for just 0.09% of the 34.8 billion metric tons of carbon emissions estimated to be produced globally and consumed just 0.15% of the global energy supply.
“People have been predicting that Bitcoin was going to use up all the energy in the world for quite a while. That’s not happening and it’s not going to happen because of the efficiency dynamics.”During the same briefing, Marathon Digital Holdings CEO Fred Thiel stated that mining efficiency is part of a “virtuous cycle” that will see the industry become “more and more energy efficient:”
The report outlined how the rising Bitcoin price has been driving network energy efficiency, as evidenced by the sharp increase in efficiency over the past eight years.
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