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A recent analysis by ClimateTech VP Daniel Batten found that 29 miners make up 16.48% of the entire Bitcoin (BTC) network and run on 90-100% clean energy. This percentage also shows that 52.2% of the entire BTC network uses clean energy.
mining companies
Batten said he immediately did his mining analysis. He reported several public hash ratios and used a combination of machine types, megawatts of power and total BTC minis to create the table below.
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The Batten Chart contains hash rate and emissions data for the 29 largest mining companies. It also revealed that 12 of them use negative emission sources, which means that they actually reduce the amount of carbon dioxide in the atmosphere during mining. The diversification percentage of these 12 companies corresponds to approximately 2% of the entire network.
Green Movement
The use of renewable energy in BTC remained above 40% in 2020, but in 2021 this percentage dropped to 28.48%. Since then, however, the mining community has been working to increase that percentage again.
Use of clean energy is increasing since early 2022. In particular, eyes turned to this topic after Elon Musk claimed that Tesla will accept payments in BTC if more than 50% of the network switches to a clean energy source by May 2022.
The Bitcoin Mining Council published a report in May 2022 which claimed that 58.4% of BTC mining was already using clean energy. When this estimate was compared to the energy consumption required to mine gold, BTC's energy consumption and carbon output turned out to be significantly lower than gold.
Another study conducted in October 2022 suggested that BTC mining could help slow down climate change in the near future.
Estimating the growth of carbon negative energy sources on the BTC network, the numbers show that BTC could reach full carbon neutrality as early as 2024.
Source : https://cryptoslate.com/new-evidence-52-2-of-bitcoin-network-uses-clean-energy/
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