Report: 76% crypto miners use renewables as part of their energy mix
The use of renewable energy for cryptocurrency mining has seen considerable growth, according to a new report. The rising energy demand of proof-of-work cryptocurrencies such as Bitcoin (BTC) has been a hotly debated topic. But the 3rd Global Cryptoasset Benchmarking Study by the University of Cambridge shows that 76% of cryptocurrency miners use electricity from renewable energy sources as part of their energy mix.The study found that over 39% of the total energy consumed by PoW cryptocurrencies including Bitcoin, Ether (ETH), Bitcoin Cash (BCH) and others comes from renewable energy....
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Energy usage is not something from which we should shy away. Bitcoin miners are already doing the hard work that is making the world a better place.
Bitcoin miners, being the unique power consumers they are, can be a possible solution to the problem of renewable energy waste. Bitcoin Mining Can Be Utilized To Use Up Excess Power Produced By Renewables As per the latest weekly report from Arcane Research, the flexibility of BTC miners means they can help mitigate wastage produced […]
The new Bitcoin Clean Energy Investment Initiative will aim to make mining more eco-friendly. On Tuesday, payments giant Square announced a major push to go carbon neutral by 2030.As part of the initiative, Square will be dedicating $10 million to its Bitcoin Clean Energy Investment Initiative, which aims "to support companies that help drive adoption and efficiency of renewables within the bitcoin ecosystem."Square is the firm behind CashApp, which is a major force in bringing crypto to regular users. In today's announcement, Square identified Bitcoin as "a unique part of Square’s....
In the latest Cointelegraph video debate, experts discuss pathways towards making Bitcoin more sustainable. In the latest Cointelegraph Crypto Duel, founder of Digiconomist Alex de Vries and CEO and founder of Blockchain for Climate Joseph Pallant debated the intensity of Bitcoin’s footprint and possible paths forward to reduce it. As pointed out by de Vries, Bitcoin’s energy consumption has been increasing together with its network. The analyst predicts its carbon footprint could increase tremendously as Bitcoin gets closer to mass adoption.“I fear that this will quickly get completely....
Bitcoin is a perpetual motion machine. The Bitcoin hashrate is slowly climbing to pre-China-ban levels, and the service continued uninterrupted without a hiccup. Such is the power of well-placed incentives. Pantera Capital’s CEO Dan Morehead adds one more factor to the equation. “The bitcoin network has recovered 68% of the drop in hashrate that our difficulty model attributed to China’s ban—likely in places with cleaner energy.” The recovery is happening exactly as forecast. The #bitcoin network has recovered 68% of the drop in hashrate that our difficulty model attributed to....