From time to time, concerns that Bitcoin, which requires high energy in its production, harms the environment, come to the fore. However, the latest report released by the Bitcoin mining council may alleviate concerns that Bitcoin is harming the environment through its high energy use.

The report released by the Bitcoin mining council revealed that the energy use in the Bitcoin network decreased by about 25 percent in the first quarter of 2022 compared to the first quarter of 2021.

The mining council is an organization founded by 44 major mining companies that make up 50 percent of the Bitcoin network. The report on electricity consumption in the Bitcoin network is based on data from council member companies.

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In the details of the report, it is emphasized that although the Bitcoin hash rate has increased by 23 percent annually in the first quarter of 2022, energy use has decreased by 25 percent. The reasons for this are the increase in sustainable energy use, developments in semiconductor technology, the increase in the use of modern Bitcoin mining techniques, and the main factors that increase energy efficiency in the network.

On the other hand, the Bitcoin mining council continues to explain that Bitcoin produces negligible carbon emissions, as it has been emphasized before. In addition, it was emphasized that Bitcoin is the industry leader in this field with its sustainable energy efficiency calculated as 58 percent.

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The U.S. Environmental Protection Agency (EPA) will oversee whether cryptomining facilities in the country act in accordance with the law as a result of environmental concerns. Due to these concerns, the bill to make a decision to suspend the activities of proof-of-work mining enterprises in the New York Assembly last month was included in the evaluation program.

Environmental activists, especially Greenpeace, announced that they had launched a worldwide campaign to draw attention to the high energy use of Bitcoin. Activist groups have the goal of creating public opinion for crypto assets that use a proof-of-work consensus mechanism like Bitcoin to switch to proof-of-stake.