Clean energy use in Bitcoin mining exceeded 50%

A Bloomberg analyst reported on the current situation for Bitcoin (BTC) miners regarding clean energy use. In a recent thread on X (formerly Twitter), analyst Jamie Coutts said that the percentage of clean energy used for Bitcoin mining has exceeded 50 percent. So more than 50 percent of Bitcoin mining now comes from renewable sources. According to Coutts; China’s mining ban in 2021 may have played a big role in pushing the industry towards more sustainable energy sources. The analyst also noted “dramatically rising hash rate alongside falling emissions.”

Undoubtedly, this development has the potential to change the landscape of Bitcoin mining. Especially in terms of its impact on the environment. However, there remains a major problem in measuring clean energy use in mining. This means that no one knows exactly how to measure, let alone know for sure, exactly where miners are located globally.

However, Coutts explained that falling emissions have coincided with an increasing hashrate, indicating that Bitcoin mining is consuming more sustainable energy in the mix. Acknowledging that forecasting energy is an imperfect science, Coutts said models show sustainable energy sources currently make up more than 53 percent of Bitcoin mining’s energy mix.