New report: More than 74 percent of all bitcoin mining is powered by renewable energy

New report: More than 74 percent of all bitcoin mining is powered by renewable energy.

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Christian Ploog

christian.ploog@trijo.co

According to the report, bitcoin mining is also more driven by renewable energy than almost every other large-scale industry in the world.

Coinshares, a research and crypto investment products company, has released a new report on bitcoin mining in the world. The report shows that 74.1 percent of all bitcoin mining is powered by renewable energy, Cointelegraph reports.

The report also notes that “at current prices, the average miner is highly profitable, with even older gear and high-cost producers currently able to make positive ROI”.

An industry driven by renewable energy

Renewable energy is energy that comes from sources that are constantly being renewed, such as hydropower, wind power and solar energy.

According to the report from Coinshares, bitcoin mining is more driven by renewable energy than almost every other large-scale industry in the world.

However, the report notes that the estimate of renewable energy for bitcoin mining is down since November. Then it was 77.8 percent, Cointelegraph reports.

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