BMC Bitcoin mining survey shows improvements in Bitcoin energy use

What 

In its latest survey, the Bitcoin Mining Council (BMC) found that the Bitcoin mining electricity mix increased to 58.5% sustainable energy usage in the fourth quarter of 2021, up from 1% in the first quarter of last year

Why 

The Bitcoin Mining Council was founded following growing concerns globally about Bitcoin mining’s consumption of energy. This is the third quarterly publication by the Council 

What next 

The Bitcoin mining community continues to look for ways to improve its energy footprint, one of Bitcoin’s biggest challenges going forward

The story 

The BMC collected information from roughly 45% of the global Bitcoin network to reach its conclusions in its latest Q4 survey of the Bitcoin mining landscape. The survey focussed on electricity consumption, technological efficiency and sustainable power mix. 

“This quarter we saw the trend continue with dramatic improvements to Bitcoin mining energy efficiency and sustainability,” said the founder of BMC and CEO of MicroStrategy Michael Saylor.

These improvements are due to advances in semiconductor technology, the expansion of Bitcoin mining in the US, the decentralisation of mining from China, and a general global shift to sustainable energy and mining techniques have contributed to the positive results, he explained.  

The BMC was founded by a cohort of Bitcoin miners and cryptocurrency investors, including Saylor, one of the largest holders of Bitcoin in the world.