🔥 BitDegree partnered with Ogvio - a free international money transfer service! Sign up now & grab Rewards! 🎁

Bitcoin Mining Goes Green: 56.7% Now Powered by Clean Energy

Key Takeaways

  • Sustainable energy now powers 56.7% of Bitcoin mining, as the industry drives renewable adoption and grid expansion;
  • Bitcoin mining shortens renewable payback from 8 to 3.5 years and supplies flexible demand for clean energy growth;
  • Waste heat from mining powers homes and heats cities, MARA warms 80,000 Finns and cuts network emissions by 7%.

Stop overpaying - start transferring money with Ogvio. Sign up, invite friends & grab Rewards now! 🎁

Bitcoin Mining Goes Green: 56.7% Now Powered by Clean Energy

The share of Bitcoin BTC $90,687.63 mining powered by sustainable energy has climbed to 56.7% as of January 9, a figure revealed by tech investor and ESG expert Daniel Batten in a post on X.

Batten highlights more than just the rise in clean power use. The mining industry is helping renewable energy projects move forward by taking on power from green sources that are otherwise stuck in connection delays of ten to fifteen years.

As a result, the payback periods for those developments drop from 8 years to about 3.5 years.

How to Use Crypto? 5 Rewarding Strategies Explained (Animated)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

Mining operations offer a demand source that adjusts quickly and boosts confidence for grid operators to add more solar and wind capacity.

It also brings electricity to isolated regions. Through a project called "Gridless Compute", miners deliver power to 8,000 homes across Kenya, Malawi, and Zambia.

Currently, foundational energy sources for heating rely on fossil fuels. Bitcoin mining offers a cleaner substitute by using its waste heat. For example, a mining firm, MARA, employs this heat to warm 80,000 residents in Finland, about 2% of the country's population.

Batten said:

The combined impact of carbon-negative Bitcoin mining is that mitigation has already reached 7% of the Bitcoin network's emissions.

He noted that mining can provide new funding options for renewable energy research. It has also helped revive outdated technologies such as OTEC (Ocean Thermal Energy Conversion) by making them financially viable without expensive grid connections.

Recently, Batten addressed several common misconceptions about Bitcoin mining's energy use. What did he say? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

Loading...
binance
×
Verified

ZERO FEES

For Ogvio Money Transfers
Rating
5.0