According to data from the Bitcoin Energy and Emissions Sustainability Tracker (BEEST) model, Bitcoin mining ranks as the highest user of sustainable energy (52.6%) among various industries. The banking sector follows closely behind with 39.2% clean energy usage, while the gold industry ranks fourth with 12.8%. This contradicts previous studies that criticized Bitcoin mining for its electricity consumption. The data also shows that Bitcoin mining has achieved the highest increase in sustainable energy mix (+38%) compared to other industries between July 2019 and June 2023. Daniel Batten, a climate tech investor and ESG analyst, has praised Bitcoin as an important technology that can mitigate methane emissions, facilitate the transition to renewable energy, and provide financial independence to billions of people. Additionally, the data indicates that Bitcoin mining’s emission intensity has decreased from over 500 g/kWh in July 2021 to 296 g/kWh in June 2023, surpassing the banking sector’s decline of 3.3%. The iron and steel industry has the highest emission intensity, while the gold and agricultural sectors follow closely behind.
Continue reading on Bitcoin.com
By
By
By
By