Bitcoin Mining Green Energy Properties continue to improve

The environmental, social and governance (ESG) credentials of Bitcoin mining continue to improve, according to recent findings. However, that doesn’t stop the mainstream media from telling people it will destroy the planet.

According to climate technology venture capitalist David Batten, the energy efficiency of Bitcoin mining is improving.

The environmentalist recently teamed up with chain analyst Willy Woo to produce four dynamic Bitcoin ESG charts to support its findings.

The first was Bitcoin mining, which has been steadily improving over the past two years. Furthermore, the pair revealed that BTC mining now uses 52.6% sustainable or renewable energy.

BTC energy discharge reversal

The second chart showed that since China banned Bitcoin mining, the rising emission trend has now reversed.

“Network emissions are trending downward, even though hash rate and power consumption are increasing. Miners switching to sustainable energy are a big driver of this.”

Furthermore, the researchers noted that emissions per dollar of market value are decreasing. Unlike today’s global financial system, where GDP growth is tied to increasing emissions, Bitcoin’s market value can grow while emissions do not.

Finally, Bitcoin mining is becoming more energy efficient. The chart shows that BTC mining now produces less energy emissions compared to energy consumption.

Furthermore, China’s mining ban has done the Bitcoin mining industry a favor. Countries are now emerging as hubs for industry that are totally renewable in terms of energy production. Two previously analyzed by BeInCrypto are Iceland and Norway.

There are also strict rules for energy use in the USA and Canada. This leads to more mining companies using more sustainable energy.

According to the Cambridge Bitcoin Electricity Consumption Index, the amount of energy lost to transmission and distribution in the US could power the BTC network 1.6 times.

The findings refute the FUD constantly spewed out by the mainstream media about how bad crypto mining is for the planet.

Bitcoin Mining Ecosystem Outlook

Bitcoin hash rate, or network horsepower, is currently near peak levels. According to BitInfoCharts, the hash rate is 331 exahashes per second (EH/S). Furthermore, it has increased by 23% since the beginning of this year.

Mining difficulty, which measures competition between miners, is also at an all-time high of 43T.

However, the mining profitability, or hash price, is still very low at $0.067 per day per TH/s. Therefore, miners still struggle to make money at these levels, regardless of their energy source.