Bitcoin Becomes One of the Most Sustainable Industries This Year: Report

Published by andrewpbreen@gmail.com on

The sustainability of the Bitcoin mining industry has significantly increased this year, according to a report published by the association of miners that was formed following the backlash on BTC’s energy use.

In a new report, the Bitcoin Mining Council (BMC) says the results of its first voluntary survey that looked into the electricity consumption and sustainable power mix of 32% percent of the world’s Bitcoin network.

 

According to the poll, survey participants and members of the BMC are currently using electricity with a sustainable power mix of 67%. Based on the data, the report concludes that the sustainable electricity mix of the global mining industry has risen to 56% during the second quarter of this year.

The BMC survey also highlights that Bitcoin’s current use of green energy makes it “one of the most sustainable industries in the world.”

The BMC was formed in May to improve transparency and to demystify the environmental impact of the Bitcoin mining industry after Tesla CEO Elon Musk unveiled that his electric car company had stopped accepting BTC payments amid concerns about the king crypto’s energy use.

Last month, Musk told his 57.8 million Twitter followers that Tesla will open BTC payments once the sustainability of Bitcoin mining industry reaches a certain threshold.

“When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.”

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