Published: 26.04.2022
Article reading time:
2 minutes.
The Bitcoin Mining Council (BMC) said that the mining efficiency of the first cryptocurrency has increased by more than half in the last quarter.
A group of mining companies has marked up a report stating that electricity consumption for bitcoin mining decreased in January-March by 25% compared to the same period in 2021. 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 a negligible 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.
BMC is a group of 44 bitcoin mining companies that account for about 50% of the hashrate of the global Bitcoin network, or 100.0 exahash (EX/c). The CPA report was the result of gathering data from companies on the board about electricity consumption, its sources and hashrate.
The report was released shortly after a group of U.S. congressmen asked the U.S. Environmental Protection Agency (EPA) to review whether
mining companies environmental protection laws.
Source: Bits
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