Report for the year Energy Efficiency of Bitcoin mining increased by 46%
Report: During the year, the energy efficiency of Bitcoin mining increased by 46%
The Bitcoin Mining Council (BMC) has published a quarterly report on the state of the Bitcoin mining industry, in which it was focused on energy consumption metric, technological efficiency and ecology.
At the end of the second quarter of 2022, the total hash of the BMC participants amounted to 107.7 EH/S – more than 50% of the total indicator.
Compared to April-Jun 2021, the computing capacity of the network increased by 137%, and energy consumption-by 63%. Mining efficiency over the year increased by 63%. The production of a hashReit for 1 MW has changed from 14.4 EH to 21.1 EH.
“We are observing 46% growth year by year in energy efficiency thanks to achievements in semiconductor technologies, rapid mining expansion in North America,“ Chinese outcome ”, wide use of sustainable energy and modern equipment,” commented CEO Microstrategy Michael Sailor.
The share of green energy in the consumption of miners increased by 6% per year and reached 59.5% (among BMC participants it amounted to 66.8%).
BMC was created in May 2021 at the initiative of Seilor after a meeting with Ilon Mask. The founders of the organization were Microstrategy, Argo Blockchain, Hive Blockchain, Hut8, Riot Blockchain, Marathon Digital Holdings, Core Scientific and Crypto -Forest Bank Mike Novogradz Galaxy Digital.
According to the site, at the time of writing in the BMC there are 45 participating companies that conduct activities on five continents.
In July 2021, the organization issued a report according to which the share of green energy in the Bitcoin-Mining industry amounted to 56%. The community was criticized by the study – the industry participants doubted BMC objectivity.
Recall, according to the study of European scientists, after the prohibition of mining in China, the carbon trace of bitcoin increased by 17%.
The intergovernmental group of climate change experts (IPCC) under the auspices of the UN indicated cryptocurrencies as one of the risk factors for ecology.
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