BMC’s Sustainable Bitcoin Mining: 63% Renewable Energy, 43% Global Share

BMC’s Sustainable Bitcoin Mining: 63% Renewable Energy, 43% Global Share

The Bitcoin Mining Council (BMC) has announced substantial progress in sustainable energy adoption and operational efficiency in Bitcoin mining during H1 2023. BMC’s hash rate surged from 24 EH in early 2022 to an impressive 158 EH in Q2 2023, marking a 70% YoY increase. This growth solidifies BMC’s position with a 43.4% share of the global Bitcoin Mining Network. With a sustainable power mix of 63.1%, BMC members contribute to the industry’s overall sustainable energy at 59.9%. The BMC also enhances the Bitcoin network’s efficiency, achieving a 24% YoY efficiency boost. During H1 2023, 2.5 GW of Bitcoin mining operations curtailed, releasing 815 GWh of energy into local grids, mainly in North America. Notable members of the BMC include Argo Blockchain, BitDeer, Bitfarms, and more.

10 Predictions for Bitcoin Mining in 2023

10 Predictions for Bitcoin Mining in 2023

2023 is here, and the bitcoin mining industry is full of questions about what the new year will bring. Some key topics of interest include the impact of companies that failed in 2022, the fate of nearly bankrupt public miners, and the focus on miners in 2023....

Bitcoin miners produce only 0.08% of global CO2 emissions

Bitcoin miners produce only 0.08% of global CO2 emissions Bitcoin miners and their energy consumption are one of the favorite topics for Bitcoin critics. The network consumes a vast amount of electricity to secure the blockchain. Therefore, they contribute...

Bitcoin mining boosts the innovation of sustainable energy

Bitcoin mining boosts the innovation of sustainable energy That bitcoin (BTC) mining is a waste of energy is a common argument against Bitcoin. It is true that the network consumes a lot of energy, and you might be shocked when you realize the network uses more...