Bitcoin Mining Council findings reveal crypto industry ‘one of the cleanest’ in the world

The Bitcoin Mining Council, which is a self-regulating group responsible for assessing bitcoin mining companies and mining activities, shared its 2nd quarter findings that are based on electricity consumption as well as sustainable power mix.

Formed with the intent of looking into bitcoin’s energy usage that has been the subject of various issues and concerns, the BMC is a voluntary forum that is the brainchild of crypto miners and industry experts such as Michael Saylor and Elon Musk.

As for the findings, the council reported that there is a 52.2% increase in sustainable energy use between the previous and current quarters of 2021. There is also a 15% observed improvement in network efficiency.

Details of the findings

In its press release, the BMC detailed the result of its findings. It claimed “it successfully collected sustainable energy information from over 32% of the current global Bitcoin network in its first-ever voluntary survey.”

As for the survey, it revealed that council members and other participants are currently using electricity with a 67% sustainable power mix.

The collected data suggested that the global mining industry’s sustainable electricity mix will jump to approximately 56% during the second quarter of next year, making it one of the most sustainable industries globally.

One of the cleanest

Using the collated data, MicroStrategy Chief Executive Officer Michael Saylor said the findings revealed bitcoin mining industry is one of the cleanest in the world, straying away from the usual narrative that makes the digital asset and its mining process an “enemy of the environment.”

On his Twitter account, Saylor said, “Based on the Bitcoin Mining Council survey of the network, mining electricity mix increased to 56% sustainable in Q2 2021, making Bitcoin one of the cleanest industries in the world.”

 

Image courtesy of Cointelegraph News/YouTube

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