Sustainable Bitcoin mining power mix hits 59.5%: BTC Mining Council

cointelegraph.com:

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 increase in miners' sustainable energy mix has also coincided with an increase in mining efficiency.

Q2 Bitcoin mining hashrate is up 137% year-on-year, while energy usage is only up 63%, demonstrating an efficiency increase of 46% 

Further details about the energy efficiency of Bitcoin mining were shared in the BMC’s YouTube briefing of its full report on July 19 with MicroStrategy CEO Michael Saylor. Compared to eight years ago, Saylor said miners’ energy efficiency has grown 5,814%

In Q2 2022, #Bitcoin mining efficiency surged 46% YoY, and sustainable power mix reached 59.5%, above 50% for the 5th quarter in a row. The network was 137% more secure YoY, only using 63% more energy. It is hard to find an industry more clean & efficient.https://t.co/gqYn8qew9R

It also found that Bitcoin mining accounted for just 0.09% of the 34.8 billion metric tons (BMt) of carbon emissions estimated to be produced globally and consumed just 0.15% of the global energy supply.

Saylor noted in the briefing that Bitcoin’s detractors’ predictions about the network’s energy use have so far not been accurate.

Related: Marathon inks new arrangements to achieve 2023 hash rate target

During the same briefing, Marathon Digital Holdings CEO Fred Thiel stated that