A game-changing CoinShares report reveals that three-quarters of bitcoin mining is done using renewable energy including hydroelectric power.
By CCN: Contrary to popular opinion, it appears that Bitcoin mining might not be as bad for the environment as people think. In a highly detailed report, CoinShares research reveals that 74% of mining activity runs on renewable energy.
“We show that Bitcoin mining is mainly located in global regions where there are ample supplies of renewable electricity available. And…we calculate a conservative estimate of the renewables penetration in the energy mix powering the Bitcoin mining network at 74.1%, making Bitcoin mining more renewables-driven than almost every other large-scale industry in the world.”