BTC mining is employing green energy because the industry of mining bitcoin in the world has increased the mix of its sustainable energy. This increase in the utilization of renewable energy has increased nearly 59% in just one year. The Bitcoin Mining Council (BMC) consists of 44 groups of firms that are given the responsibility of mining and they claim 50% of the representation of the network of global bitcoin or 100.9 exahash (EH).
Increase In Sustainable Energy Mix In The BTC Mining
The BMC launched a new report and published its findings this Monday. The BMC is supported by Michael Saylor, the CEO of MicroStrategy, and by proponents of Bitcoin. The survey made by the BMC asked the question companies about the amount of electricity used by each of them and a clear report must be given about the source of the electricity used.
The companies need to mention whether the electricity is coming from wind, hydro, geothermal sources, solar, or nuclear. An estimation was made by the BMC regarding the renewable electricity mix of the industry in global mining and it was found that the estimate of top crypto was 58.4%. This rate has fallen by 0.1% as compared to the previous quarter.
Fact that BMC was established in the previous year and hence it is not clear how the body calculated the worth of 36.8% of green energy in Q1 2021. BTC mining has recently come under scrutiny due to the fact that it is utilizing huge energy and carbon footprint.
The data given by BMC was different from the scientific journal joules which stated that the mining of crypto incurred a 17% increase in the emission of carbon in the environment which is emitted to develop and expand the network of bitcoin. Thus the BTC mining Council reported that they are increasing their use of green energy.
