Bitcoin Mining Now Most Sustainably-Powered Global Industry: Data
2023年9月27日 - 02:00AM
NEWSBTC
Data shows that the Bitcoin mining sector has become the most
sustainably-powered global industry, as more than 50% of it uses
clean energy. Majority Of Bitcoin Mining Industry Uses Clean Energy
Sources One of the main criticisms against BTC is that the sector
uses a considerable amount of energy and, thus, releases a notable
amount of emissions. Things appear to be developing for the better
and quite fast. In a new post on X, the co-founder of CH4Capital,
Daniel Batten, has shared a few charts that look into the
sustainability of the BTC network and how it compares with other
sectors. The first chart displays the trend in the percentage of
sustainable energy used by Bitcoin mining and other industries over
the last four years. The trend in the clean energy used by the
various global industries | Source: @DSBatten on X As shown in the
above chart, most industries have seen minimal growth in using
sustainable energy during this period. The Banking Sector, the
second largest in terms of clean energy usage, saw a rise of 2.6%.
Related Reading: Bitcoin Mega Whales Return To Selling Mode, More
Downside Soon? On the other hand, the Bitcoin mining sector has
observed an increase of a whopping 38%, which has taken the share
of sustainable energy powering the blockchain to 52.6%. This growth
has naturally made BTC mining the most sustainable among these
global industries. An even more interesting chart is this one that
compares the emissions of the network (in terms of megatons of CO2
emitted) with the various indicators related to the blockchain’s
growth. Looks like emissions on the network have gone down in this
period | Source: @DSBatten on X Three Bitcoin metrics are being
considered here: the mining hashrate, the price, and the total
number of users. The first has grown by 475% during the past four
years, the second by 164%, and the third by 289%. Despite these
growths, however, the emissions of the mining sector have gone down
almost 10% in the same period. Batten notes that even if you double
these metrics during any four-year cycle, the emissions will be the
same as at the start, which no other industry has achieved. The
fact that the hashrate, which is a measure of the total amount of
computing power that miners have connected to the blockchain, has
been able to rise while total emissions go down would imply that
the emission intensity (that is, the emissions per kWh of power
used) has declined. Related Reading: Bitcoin Social Media Talk
Drops To 3-Month Low, All Eyes On Altcoins? Indeed, as the data
would confirm, the BTC network’s emission intensity has dropped by
more than 50% in the last four years, making the mining sector the
most emission-efficient among the global industries. All other
industries have only seen a slight decrease in this metric |
Source: @DSBatten on X Finally, Batten has also shared the energy
composition of the network, noting that the largest power source is
hydro. 23.1% of the network is powered by hydro energy | Source:
@DSBatten on X This means that the Bitcoin mining sector is also
the only one that doesn’t have its largest source of power coal.
BTC Price Bitcoin has been stagnant for a while now, and the asset
is only continuing this sideways trend as its price trades around
the $26,100 level. BTC is still stuck in its consolidation |
Source: BTCUSD on TradingView Featured image from Brian Wangenheim
on Unsplash.com, chart from TradingView.com
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