{"id":289118,"date":"2021-07-02T03:39:16","date_gmt":"2021-07-02T00:39:16","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-mining-council-survey-estimates-a-56-sustainable-power-mix-in-q2\/"},"modified":"2021-07-02T03:39:16","modified_gmt":"2021-07-02T00:39:16","slug":"bitcoin-mining-council-survey-estimates-a-56-sustainable-power-mix-in-q2","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-mining-council-survey-estimates-a-56-sustainable-power-mix-in-q2\/","title":{"rendered":"# Bitcoin Mining Council survey estimates a 56% sustainable power mix in Q2"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f683bc714c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f683bc714c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-mining-council-survey-estimates-a-56-sustainable-power-mix-in-q2\/#Dont_trust_verify\" >Don\u2019t trust, verify?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin Mining Council survey estimates a 56% sustainable power mix in Q2 <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>The global Bitcoin mining sector has reached a 56% sustainable power mix in Q2, according to estimates from a Bitcoin Mining Council (BMC) report. <\/p>\n<p>\u201cBitcoin mining uses a negligible amount of energy, is rapidly becoming more efficient, and is powered by a higher mix of sustainable energy than any major country or industry,\u201d a July 1 press <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.hope.com\/en\/content\/bmc-q2-2021-briefing\">release<\/a> from the council stated. <\/p>\n<p>The estimate was based on a three question survey of just 32% of the miners on the network. It found respondents \u201care currently utilizing electricity with a 67% sustainable power mix\u201d which it used as the basis for its 56% estimate across the overall network.<\/p>\n<p>One of the BMC\u2019s core aims is to provide transparent and verifiable data on renewable energy usage in the Bitcoin mining industry. <\/p>\n<p>However, the validity of the data and estimates resulting from BMC\u2019s survey is unclear, as it relies heavily on voluntary and self-reported responses from just a subset of the network. The BMC vaguely notes that its estimated Global Bitcoin network annualized power is based on its own \u201canalysis, assumptions and exploration.\u201d<\/p>\n<p>The BMC defines sustainable electricity as \u201chydro, wind, solar, nuclear, geothermal, and carbon-based generation with net carbon credits,\u201d which are based on principles from the International Energy Agency\u2019s (IEA) Net Zero by 2050 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.iea.org\/reports\/net-zero-by-2050\">report<\/a>. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Dont_trust_verify\"><\/span>Don\u2019t trust, verify?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>This new BMC study seems unlikely to sway Elon Musk just yet, who stated last month that Tesla would resume allowing Bitcoin transactions when the global Bitcoin mining network was verifiably backed by at least 50% renewables. <\/p>\n<p>MicroStrategy CEO and Bitcoin Mining Council member Michael Saylor was \u201cpleased\u201d with the report, however, noting that the Bitcoin mining industry has \u201cvoluntarily\u201d worked together to provide \u201ccritical information to the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> public and policymakers\u201d <\/p>\n<p>He said it would help \u201cclarifying common misconceptions about the nature and scale of Bitcoin energy usage.&#8221; <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/2cfae491-330a-4ce1-9527-902aecc95371.png\"><figcaption style=\"text-align: center;\"><em>Global Sustainable Energy Mix: Bitcoin Mining Council<\/em><\/figcaption><\/figure>\n<p>The survey asked just three questions to participants:<\/p>\n<blockquote><p>&#8220;How much electricity does your total fleet consume today? What is the total % of sustainable electricity within your fleet&#8217;s power generation mix today? What is the total aggregate hashrate of your fleet today?&#8221;<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><em>Elon Musk&#8217;s latest attempt to pump Dogecoin fails miserably<\/em><\/p>\n<p>The study comes at a pivotal moment in Bitcoin mining history, as Chinese-based miners either shutting up shop, or flocking overseas to energy-cheap hubs such as Quebec in Canada, and Kazakhstan in Central Asia. It remains to be seen how the upheaval in mining will affect the use of renewable energy, though there are hopes it will have a positive effect.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/239d6020-28b9-4f43-b3c0-2424e179776f.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin Mining Global Energy Use: Bitcoin Mining Council<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-mining-council-survey-estimates-a-56-sustainable-power-mix-in-q2\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin Mining Council survey estimates a 56% sustainable power mix in Q2 &#8221; The global Bitcoin mining sector has reached a 56% sustainable power mix in Q2, according to estimates from a Bitcoin Mining Council (BMC) report. \u201cBitcoin mining uses a negligible amount of energy, is rapidly becoming more efficient, and is powered by&#8230;<\/p>\n","protected":false},"author":1,"featured_media":289119,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvZmU0YjcxNWMtYjAxNC00ZjgyLTg0YTUtNTQ2OWRiYjMwNDVhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74989,74872,75042,96725,76751],"class_list":["post-289118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-mining","tag-green-technology","tag-mining","tag-press-release","tag-sustainability"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/289118","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=289118"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/289118\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/289119"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=289118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=289118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=289118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}