At the end of May last year, Elon Musk convinced the leaders of the bitcoin industry to form the Bitcoin Mining Council (BMC), and in mid-July 2021, BMC launched its public services and website.
BMC is now a group of 44 bitcoin mining companies. According to experts, they account for 50% of the worldwide Bitcoin network, or 100.0 exahash (EX/c).
On April 25, 2022, the organization released a report discussing sustainable energy improvements in the bitcoin mining industry in the first quarter of 2022. The findings of the BMC report show that bitcoin electricity consumption decreased by 25% in the first quarter of 2022 compared to the previous year.
The Navy Report was the result of collecting data from the companies that are members of the council on electricity consumption, its sources and hashrate.
Board member MicroStrategy CEO Michael Saylor said that bitcoin mining hashrate grew 23% year-on-year and energy consumption fell 25% due to a 63% increase in mining efficiency.
The businessman noted that Bitcoin “uses an insignificant amount of global energy (16 bits per second) and generates negligible carbon emissions (8 bits per second). Sailor added that the blockchain of the first cryptocurrency is “an industry leader in sustainability.”
“We have seen a 63% increase in efficiency year on year thanks to advances in semiconductor technology, the rapid expansion of mining in North America, the exodus from China, and the widespread adoption of sustainable energy and modern bitcoin mining methods,” said the head of MicroStrategy.
The report was published shortly after a group of US congressmen asked the US Environmental Protection Agency (EPA) to analyze whether mining companies comply with environmental laws.
Source: ixbt
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