BlocksInform
The 2022 crypto winter was unable to stop the development of Bitcoin mining. Research from the Bitcoin Mining Council (BMC) shows that BTC mining is now both more efficient and more environmentally friendly. Sustainable energy is preferred by 63.8% of CMB members.
In the report, BMC highlighted technology efficiency, electricity use and the sustainable energy mix.
BMC: Bitcoin comes in green.
The Bitcoin Mining Council is responsible for 119 computational powers, accounting for 48.4% of the world's mining hash rate. The research and announcements of this council, which dominates nearly half of the Bitcoin mining industry, are precious.
Q4 2022 survey results indicate that 63.8% of BMC members surveyed use renewable energy in BTC mining operations. Research also shows that renewable energy is supplied by 58.9 per cent of the mining industry as a whole. As a result, bitcoin extraction is the industry that attaches the greatest importance to this type of energy.
In Q4, 2022 #Bitcoin hash rate increased 45% YoY and efficiency improved by 16%. Join us at 5pm EST today (https://t.co/JYoIt71Bms) as we present survey results & take Q&A. Please post your questions hereunder. https://t.co/VU0FrOoiR0
— Michael Saylor?? (@saylor) January 18, 2023
Sustainable Energy Mix Falls Compared to Q3
Compared to 2021, the data in BMC’s Q4 briefing is excellent. However, during the previous quarter, the sustainable energy mix declined from 59.4 per cent to 58.9 per cent.
Elon Musk is on the Agenda Again
Tesla, Elon Musk’s best-known company worldwide, gave up on it in May 2021, citing environmental concerns, after announcing in February 2021 that it had agreed to receive payments in BTC.
BTC mining is now operating with a 58.9% sustainable energy mix mobilized the community. People demand musc elongated to be honest and make bitcoin a payment method again for tesla brand cars.
This is inaccurate. Tesla sold only about 10% of the investments to confirm that the OBT could be wound up easily without displacing the market.
When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.
— Elon Musk (@elonmusk) June 13, 2021
On a different side, Elon Musk's failure to include Dogecoin in payment options, for Twitter Blue as well, demonstrates that buying a car with Bitcoin is a dream at the moment.
The bitcoin (bmc) mining board was formed under the direction of michael saylor after elon musk accused the industry of being detrimental to the environment. Bmc encourages all its members to develop resources that are respectful of the environment.
In the first report released July 1, 2021, the rate of sustainable energy was 56 per cent. While rates have improved during the transition to green power, we are still not in a perfect situation.
Hash Rate Increased by 50%
Although the BTC price dropped from $47,000 to $16,600 in 2022, Bitcoin mining activity increased significantly. The hash rate increased by 45% over the course of the year. It's a table that shows the real significance of productivity growth.
BMC's membership hash rate also increased from 95 exahash in the first quarter of 2022 to 119 exahash in the fourth quarter of 2022.
