A report on bitcoin mining: the collapse of fossil sources

Two weeks ago, a report has been published that reveals over the past decade, the use of renewable energy in bitcoin mining has in practice.

This also led to a collapse in the use of electricity produced from fossil sources such as coal.

A report on bitcoin mining

the a reportWith the title Future Mining: The Princess of Renewable Energy in Bitcoin and the path until 2030It was published by Mica Crypto Alliance, and was created in cooperation with Nodiens.

This is a 19 -page PDF that analyzes the environmental impact of energy consumption from bitcoin mining, with a special focus on the so -called “”Carbon fingerprint“Or carbon dioxide emissions.

The main points of the report are four.

The first is the conclusion that Bitcoin Mining is actually more environmentally more suitable. In fact, from 2011 to 2024, the renewable energy share in its power mix has grown From 20 % to 41 %.

In other words, during thirteen years, it has almost doubled, as it has now reached half of the energy consumption Bitcoin mining All over the world.

The second main point is perhaps the most exciting.

In fact, the report states that the use of coal as an energy source to extract bitcoin in the same period has decreased from 63 % to 20 %.

This is a real collapse, given that coal has significantly moved the most used energy source to extract bitcoin (especially in China) To be a much smaller source, with a share now less than half of the renewable energy sources.

The report concludes that at this rate, bitcoin mining is expected to be operated by 2030 70 % of sustainable energy sources.

However, the fourth and final point warns that, from an absolute terms, carbon emissions can increase for a few other years, especially if the price of bitcoin is going through other bull stages before stabilization and decline recently.

The report was formulated by Ayush Ladda, from DLT Science Foundation, Juan Ignacio Ibañez, from Mica Crypto Alliance, Kamil Tylinski, and Paolo Tasca, from Nodiens.

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The data from Nodiens on which this report is based on a clear trend towards greater use of renewable energy sources, driven by the integrated economic incentives in Bitcoin, but also of all of technological progress and global push towards sustainability.

Nodiens is actually a standards of financial visions and dozens of social health on more than 4000 Cross currenciesIncluding more than 300 ESG parameters on the effect of climate and decentralization.

His data is collected daily from more than 10 million data sources on platforms like Telegram, X, Reddit, Yahoo Finance, Stocktwits and GitHub.

Nodiens is also a major partner of the Mica Crypto alliance.

Mika Checks Alliance

the Mika Checks Alliance It helps companies navigate in the complex organizational scene.

Alliance members can reach, for example, to the extensive ESG data set, so that they can meet the legal and environmental standards of Mika.

One of the activities of the Mica Crypto Alliance is the creation of white papers compatible with mica, as well as the production of sustainability data, since December 2024, they will be a legal requirement for all cryptocurrencies within the European Union.

In fact, according to the organization of the new European Union on the MICA markets (MICA), any entity that wants to provide a coded currency or its narration to circulate on a platform in the European Union, publishes a white paper compatible with Mika, along with relevant sustainability data, and this also applies to CASP providers, such as Excination Exchange.

Nodules

Last week, nodules Declare The launch of its platform, which monitors more than 100 teachers of financial and societal risks and ESG on more than 4000 Web3 assets.

Among these parameters are prices, market marks, sizes, concentration and cost of liquidity, pairs, and Depeg rates from Stablecoins, both of them on CEX and Dex.

There are also criteria that monitor the real participation of society thanks to its mood, trust, popular indicators, and topics that go to X, Telegram, Reddit, GitHub, Twits, Yahoo Finance, to discover manipulation, evaluate feelings, and capture first warning signs.

Other parameters analyze energy consumption, decentralization index, knot distribution, and produce transactions to more than 200 Blockain.

Moreover, the data intelligence team in Nodiens publishes monthly articles covering the trends and behaviors of the chain, community health and risk dynamics in the main protocols.