The energy sustainability and technological efficiency of the global BTC mining industry increased by 6% in Q2 2022 compared to the same period in 2021.
The latest report by the Bitcoin Mining Council (BMC) showed that the use of renewable energy by global mining companies increased in Q2 this year compared to Q1. Now a total of 59.5% of electricity for BTC mining comes from green sources.
The global balance of green energy use for BTC mining in Q1 2022 was 58.4%, according to the BMC.
Analysts at the BMC calculated that the BTC mining industry consumes only 0.15% of global electricity consumption, while CO² emissions are only 0.086% of the global total. Recall that a recent study proved that bank transactions require 56 times more electricity than BTC blockchain payments. In addition, scientists identified the most sustainable blockchain network.
The green energy usage rate of the BMC member companies was higher than the global rate of 66.8% in Q2 2022, a 2.2% increase over Q1. MicroStrategy CEO Michael Saylor called BTC mining one of the most sustainable industries in the world thanks to this growth.
According to the BMC, the most energy-efficient countries within BTC mining are:
- Germany. The country uses 48.5% renewable energy for BTC mining;
- South Korea. The country’s industry energy efficiency is 33.7%;
- USA. American mining farms use green energy at 31.4%.
Moreover, two of the most energy-efficient countries, Germany and the U.S., were recently named as the most crypto-friendly, thanks to their environmental standards as well.
