Mining energy consumption has grown by 63% in a year, according to a report by the Bitcoin Mining Council (BMC), an international organization that brings together major mining companies such as MicroStrategy and Marathon Digital.
Analysts have collected data on more than half of the bitcoin network. The report says that the share of renewable energy used to mine bitcoin was 59.5%, up 6% from a year earlier.
Together with the increase in the use of “green” energy, the efficiency of the network has increased significantly – by 46% compared to last year’s data.
At the same time, the hashrate of the network (the complexity of bitcoin mining) has grown by 137% over the year. The study notes that mining accounts for 0.086% of total carbon dioxide emissions into the atmosphere.
Also, bitcoin mining consumes 0.15% of the world’s electricity, roughly equal to the energy consumption of the computer games industry or the global consumption of electricity for holiday lighting.
Due to mining, Sweden has faced problems in the field of energy. The country was faced with a choice: to provide electricity to enterprises that create jobs or to allocate power to mining companies.