Bitcoin mining is shifting to sustainable energy.
According to a new study by the Cambridge Centre for Alternative Finance (CCAF), the share of sustainable energy used in Bitcoin mining has reached 52.4%. In 2022, this figure was only 37.6%.
Key findings of the study:
▪️42.6% of energy comes from renewable sources such as wind and hydroelectric power.
▪️9.8% of energy is nuclear.
▪️The use of natural gas has significantly increased, surpassing coal as the primary energy source (38.2% vs. 8.9%).
▪️86.9% of decommissioned equipment is recycled or reused.
Geography of mining:
▪️The USA leads with 75.4% of global activity.
▪️Canada is in second place with 7.1%.