Report: Bitcoin mining energy efficiency up 46% year on year.

The Bitcoin Mining Council (BMC) опубликовала a quarterly report on the state of the Bitcoin mining industry, in which it focused on metrics of energy consumption, technological efficiency and ecology.

At the end of Q2 2022, the aggregate hashrate of BMC participants stood at 107.7 EH/s — more than 50% of the total.

Compared with April–June 2021, the network hashrate rose by 137%, and energy consumption by 63%. Mining efficiency over the year rose by 63%. Hashrate produced per 1 MW changed from 14.4 EH to 21.1 EH.

«We are seeing a 46% year-on-year rise in energy efficiency, driven by advances in semiconductor technology, rapid expansion of mining in North America, “китайскому исходу”, widespread adoption of sustainable energy and modern equipment», — прокомментировал CEO MicroStrategy Майкл Сэйлор.

The share of green energy in miners’ consumption rose by 6 percentage points to 59.5% (among BMC members it stood at 66.8%).

The BMC was founded in May 2021 at the initiative of Saylor following a meeting with Elon Musk.

Founding members included MicroStrategy, Argo Blockchain, Hive Blockchain, Hut8, Riot Blockchain, Marathon Digital Holdings, Core Scientific and Galaxy Digital, Mike Novogratz’s cryptocurrency merchant bank.

According to the site, at the time of writing BMC counted 45 member companies operating on five continents.

In July 2021, the organization released a report, according to which the share of ‘green’ energy in the Bitcoin mining industry stood at 56%. In the community criticised the study — industry participants questioned the objectivity of the BMC.

As reported in a study by European scientists, after the mining ban in China the carbon footprint of Bitcoin increased by 17%.

The Intergovernmental Panel on Climate Change (IPCC), under UN auspices, identified cryptocurrencies as one of the environmental risk factors.

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