BTC Mining Industry’s Sustainable Energy Mix Touched 59.5% in 2nd Q

Bitcoin Mining Council’s Q2 survey has pointed out the advancements that took place in technological efficiency as well as the sustainable electricity mix. In the respective survey, the organization has confirmed that a jump of up to 59.5% has been witnessed in the electricity mix of Bitcoin mining.

BMC’s New Q2 Survey Findings Disclose Substantial Development

On 19th July this year, The Bitcoin Mining Council (BTC) – known as a voluntary forum across the globe facilitating BTC mining firms as well as the rest of the platforms operating within the Bitcoin industry – declared the results of its survey of this year’s 2nd quarter in which sustainable energy mix, technological efficiency, and electricity consumption were the factors of chief significance.

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The data has been gathered from more than half of the Bitcoin network across the globe, referring to 107.7 exahash (EH), in the exclusive survey of the voluntary sector. The respective survey’s findings figured out that the BMC’s members, as well as the survey participants, are at the moment using electricity with nearly 66.8% of the sustainable energy mix. As this data brings forth, it is anticipated that a per annum increase of almost 6% (at 59.5%) has occurred in the sustainable energy mix of the BTC mining industry, between the 2nd quarter of 2021 to that of 2022.

BTC Mining Industry’s Hashrate Increases Continuously

In this way, the BTC mining industry has taken a place among the extremely sustainable industries throughout the world. Apart from this, technological efficiency is another factor that positively evolved year-on-year by approximately 46%, moving from a per gigawatt (GW) amount of just 14.4 EH (in the previous year’s Q2) to per GW EH of 21.1 in Q1 2022. The fact of the continuous growth of the Bitcoin Network is reiterated by this efficiency elevation. The respective figures are predicted to increase with time.

In addition to this, the respective data’s publication denotes the 5th quarter issuance of BMC (the platform which was established in May of the recent year having support from a few biggest Bitcoin mining venues such as MicroStrategy and Michael Saylor (its CEO). Year-on-year progress of almost 137% has been seen in the Bitcoin Network’s hashrate and whereas just a 63% increase happened in the energy consumption, according to Michael Saylor.

BMC and Core Scientific’s co-founder, Darin Feinstein, stated that just in this Q2, the membership hashrate of the BMC has surged to 108 (from 37 EH). At this time, in his words, 50.5% of the entire Bitcoin Mining Network is represented by BMC as its members are present around five continents.