Bitcoin Mining Council Reveals Sustainable Growth: New Survey Sheds Light on Industry’s Power and Efficiency

In a caller report, the Bitcoin Mining Council (BMC) unveiled the results of its archetypal fractional of 2023 survey, highlighting the industry’s strides successful energy consumption, technological efficiency, and sustainable power. Furthermore, the survey details that the BMC accounts for 43.4% of the planetary mining network.

Insights From the Bitcoin Mining Council’s Latest Survey

The Bitcoin Mining Council, a collaborative planetary forum of bitcoin (BTC) mining companies and associated businesses, announced the findings of its caller survey connected August 9, 2023. Focused connected energy consumption, technological efficiency, and sustainable powerfulness mix, the survey reveals that BMC’s rank hashrate has accrued from 24 exahash per 2nd (EH/s) successful Q1 2022 to 158 EH/s successful Q2 2023.

The survey’s results item a important displacement toward sustainable vigor wrong the bitcoin mining industry. Members of the BMC are utilizing energy with a 63.1% sustainable powerfulness mix, reflecting a affirmative inclination successful biology consciousness.

“Based connected this data, the planetary bitcoin mining industry’s sustainable energy premix has improved marginally to 59.9% and remains 1 of the astir sustainable industries globally,” the study stated.

Additionally, a year-on-year examination reveals that the technological ratio of the planetary Bitcoin web roseate by 24%, increasing from 21.1 EH/s per gigawatt (GW) successful the archetypal fractional of 2022 to 26.1 EH/s per GW successful the corresponding play of 2023.

“Entering 2023, the Bitcoin web has ne'er been stronger oregon much secure,” Ben Gagnon, main mining serviceman of Bitfarms stated. “Despite the macro headwinds successful the 2nd fractional of 2022, the manufacture has continued to deploy caller miners, expanding hash complaint and improving vigor ratio and web security.”

Gagnon added:

In H1 2023, we besides saw a important summation successful curtailment, with BMC members reporting 2.5 GW worthy of Bitcoin mining operations participating successful curtailment programs and 815 GWh of vigor released backmost to section grids during times of highest demand.

Gagnon added that astir of this curtailment is identified successful the United States and Canada, wherever the disposable interruptible load equals astir 25% of each installed inferior artillery retention crossed these 2 nations. Through specified initiatives, Bitcoin mining manifests itself successful assorted regions arsenic an indispensable instrumentality for grid stabilization and arsenic the “buyer of past resort,” Gagnon said.

What bash you deliberation astir the Bitcoin Mining Council’s latest survey? Share your thoughts and opinions astir this taxable successful the comments conception below.