Post-Mining Bitcoin - Collapse or Sustainable Growth?
Michael Nielsen is a respected scientist with a knack for explaining abstruse technical stuff and the author of a textbook on quantum computing. In an excellent technical essay, required reading for those who want to understand Bitcoin in-depth, Nielsen explains just how and why Bitcoin works: "For [the blockchain] to have any chance of succeeding, network users need an incentive to help validate transactions. Without such an incentive, they have no reason to expend valuable computational power, merely to help validate other people's transactions. And if network users are not willing to....
Related News
Data shows that the Bitcoin mining sector has become the most sustainably-powered global industry, as more than 50% of it uses clean energy. Majority Of Bitcoin Mining Industry Uses Clean Energy Sources One of the main criticisms against BTC is that the sector uses a considerable amount of energy and, thus, releases a notable amount of emissions. Things appear to be developing for the better and quite fast. In a new post on X, the co-founder of CH4Capital, Daniel Batten, has shared a few charts that look into the sustainability of the BTC network and how it compares with other sectors. The....
The latest Bitcoin Mining Council report showed that the mining industry is rapidly adopting sustainable energy sources to secure the largest crypto blockchain. Bitcoin (BTC) mining companies are further adopting green energy as the global Bitcoin mining industry increased its sustainable energy mix by approximately 59% year over year.The Bitcoin Mining Council (BMC) is group of 44 Bitcoin mining companies claiming to represent 50% of the global Bitcoin network, or 100.9 exahash (EH). It released a new report on Monday April 25 with the findings. The group is also fronted by Bitcoin....
PRESS RELEASE. Irvine, California, January 21, 2022: Merkle Standard, a sustainable digital asset mining platform, announced a new miner purchase order from Bitmain Technologies Limited. The executed purchase agreement is for 13,500 mining rigs from the leading ASIC mining manufacturer and aligns with Merkle Standard’s goal of becoming the industry’s most efficient and sustainable miner.
The acquisition of the miners consists of 6,000 latest generation BITMAIN S19 XP machines which boast a hash rate of 140 TH/s and 21.5J/TH power efficiency that significantly....
The latest Q2 report also details how energy efficiency among Bitcoin miners is on the rise. Nearly 60% of the electricity used to power Bitcoin mining machines comes from sustainable sources, according to the latest Q2 2022 report from the Bitcoin Mining Council (BMC).In its Q2 review of the Bitcoin network released on July 19, the BMC found that the global Bitcoin mining industry's use of sustainable energy is up 6% from Q2 2021 and up 2% from Q1 2022, reaching 59.5% in the latest quarter — adding that it is “one of the most sustainable industries globally.”The council observed the....
“This quarter we saw the trend continue with dramatic improvements to Bitcoin mining energy efficiency and sustainability,” said the Founder and CEO of MicroStrategy Michael Saylor. The percentage of the global Bitcoin mining industry running on renewable power increased by 1% to 58.5% in the fourth quarter of 2021 according to new data. The Bitcoin Mining Council (BMC) announced the findings of its fourth quarter survey on Jan. 18. The survey focused on three metrics: sustainable power mix, technological efficiency and electricity consumption. Q4 #Bitcoin Mining Council Survey Confirms....