BMC Drives 63% Renewable Bitcoin Mining | GRN Energy

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

Sep 20, 2023 | Updates

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.

Home

Updates

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

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

The Bitcoin Mining Council (BMC) reports progress in sustainable energy and efficiency, with H1 2023 data revealing significant strides.

BMC’s Key Stats for H1 2023:

Hash Rate: 158 EH
YoY Hash Rate Increase: 70%
BMC’s Share of Global Bitcoin Network: 43.4%
Sustainable Power Mix by BMC: 63.1%
Global Bitcoin Mining Sustainable Energy Mix: 59.9%
Technological Efficiency: 26.1 EH per GW
YoY Efficiency Increase: 24%
Bitcoin Mining in Curtailment: 2.5 GW
Energy to Local Grids: 815 GWh

The BMC, uniting global Bitcoin miners, aims for transparency and to highlight benefits.

From 24 EH in early 2022, BMC’s hash rate surged to 158 EH in Q2 2023, a 70% YoY growth.

BMC holds 43.4% of the global Bitcoin Mining Network, across six continents, using 63.1% renewable energy. This aids global mining’s sustainable energy at 59.9%.

Bitcoin gives back. Global Bitcoin Network’s efficiency increased by 24% YoY, from 21.1 EH per GW in H1 2022 to 26.1 EH per GW in H1 2023.

H1 2023 saw 2.5 GW of Bitcoin mining curtailing, releasing 815 GWh to local grids, mainly in the US and Canada.

BMC includes Argo Blockchain, BitDeer, Bitfarms, Celsius Network, Consensus Mining, Compass Mining, Core Scientific, Galaxy Digital, Hive Blockchain, Hut8, Marathon Digital Holdings, Poolin, Riot Blockchain, Summit, and more.