Insights From the Bitcoin Mining Council’s Latest Survey
The Bitcoin Mining Council recently released the findings of its survey on the bitcoin mining industry. The survey focused on electricity consumption, technological efficiency, and sustainable power mix. Here are the key takeaways:
- The BMC’s membership hashrate increased from 24 EH/s in Q1 2022 to 158 EH/s in Q2 2023.
- Members of the BMC are utilizing electricity with a 63.1% sustainable power mix, indicating a positive trend in environmental consciousness.
- The global bitcoin mining industry’s sustainable electricity mix has improved marginally to 59.9%, making it one of the most sustainable industries globally.
- The technological efficiency of the global Bitcoin network rose by 24% in the first half of 2023, reaching 26.1 EH/s per GW.
- BMC members reported 2.5 GW worth of Bitcoin mining operations participating in curtailment programs, releasing 815 GWh of energy back to local grids during peak demand.
Hot Take
The survey results demonstrate a positive shift towards sustainable energy in the bitcoin mining industry. With the increase in technological efficiency and the utilization of sustainable power, the industry is becoming more environmentally conscious. Furthermore, the participation in curtailment programs showcases the industry’s potential for grid stabilization. These findings highlight the progress made by the Bitcoin Mining Council and its members in creating a more sustainable and efficient bitcoin network.
By
By
By
By
By
By