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Bitcoin mining uses 59.5% sustainable electricity mix

Bitcoin mining uses a 59.5% sustainable electricity mix.

Source: Unsplash.com

In Q2 2022 the Bitcoin mining electricity mix increased to 59.5% sustainable. This is according to a survey by the Bitcoin Mining Council (BMC), which looked at electricity consumption, technological efficency and sustainable power mix. 

Key findings: More efficient and more sustainable

The survey found year on year improvements in sustainable power mix and technological efficency. Compared to last year, Bitcoin mining efficency increased by 63% and sustainable electricity mix increased by 6%. 

Towards a clean industry

Global Bitcoin Mining (59.5%) has a higher sustainable energy mix than Germany (48.5%), the United States (31.4%), Brazil (21.7%) or China (16.4%).

Michael Saylor (CEO MicroStrategy), who convened the first meeting of the Bitcoin Mining Council (BMC), summarized the survey findings on Twitter as follows:

In Q2 2022, Bitcoin mining efficiency surged 46% YoY, and sustainable power mix reached 59.5%, above 50% for the 5th quarter in a row. The network was 137% more secure YoY, only using 63% more energy. It is hard to find an industry more clean & efficient.

The Bitcoin Mining Council (BMC) was founded in May 2021 and defines itself as “open forum of Bitcoin mining companies and other companies in the Bitcoin industry comitted to the Bitcoin Network and its core principles”.

Disclaimer

This article does not provide investment advice. Historical cryptocurrency data is not a guarantee of future market developments. The author may hold several of the cryptocurrencies mentioned in this article.

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