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The Bitcoin Mining Council guarantees that the mining of the cryptocurrency will be significantly more efficient from an energy point of view in the coming years.
Bitcoin mining efficiency increases by 23% in a year
The Bitcoin Mining Council (BMC) estimated in its third quarter review of 1960 that the technological efficiency of the global cryptocurrency network grew by 23 % year-on-year. Additionally, due to this increased efficiency, your crypto mining ‘hashrate’ (a measure of the computing power in a cryptocurrency network that serves as its key indicator of security) has increased by 73 % in a year, while energy use has only grown by 41 %.
“Bitcoin is the
Regarding the future, the BMC calculates that the efficiency of cryptomining will multiply by 3 and by 2 in the next four and in the following four years, respectively. All this, according to the organization, guarantees that bitcoin mining will be significantly more efficient from an energy point of view in the next eight years.
Furthermore, the world’s first cryptocurrency has become more sustainable. The report indicates that the sustainable electricity rate of the global bitcoin mining industry is now 59,4%, which makes it “one of the most sustainable industries worldwide”.
“The bitcoin network has never been stronger,” said Ben Gagnon, director of mining at Bitfarms.
The Council The Bitcoin Mining Forum is a voluntary global forum of mining companies and other companies in the bitcoin industry. It is made up of 41 mining companies from the five continents that represent the 45,4 % of the global cryptocurrency mining network.
