The Bitcoin Mining Council has released its inaugural report, which focuses solely on bitcoin miners’ electricity usage and the energy supply structure’s long-term viability.
BMC supporters claim that the BTC mining industry now employs renewable energy for 56% of its electricity. The organization’s first voluntary survey, which included more than 32% of active Bitcoin network participants, revealed these findings.
There were just three questions in the survey. They included information on the quantity of electricity utilized by the participants’ farms, the percentage of renewable energy they used, and an estimate of their equipment’s overall hash rate. After the publicity surrounding the extended battle between miners and environmentalists, all of this helped to understand how many miners have decided to switch to “green” energy for their farms.
The only thing that the crypto community’s participants couldn’t figure out was what exactly was meant by “clean energy.” However, it was most likely about using its traditional supplies of sunlight, wind, and water.
Mining, according to the council, has become one of the world’s most robust industries. However, it is worth noting that the figures are not as complete as we would want due to the data extrapolation method and certain restrictions of the survey participants. As a result, it is pointless to rejoice in advance that mining has become a “green” industry.
Elon Musk, on the other hand, has a lot to think about after he remarks on Twitter about resuming the sale of electric automobiles for Bitcoin and increasing Tesla’s investment in the most popular cryptocurrency on the market, at a time when more than half of miners are switching to “green” energy.