Bitcoin Mining Council’s Survey Unveils Major Strides in Energy Efficiency and Global Network Dominance
The Bitcoin Mining Council (BMC) has released its H1 2023 survey findings, spotlighting remarkable progress in electricity consumption, technological efficiency, and sustainable power.
The survey also reveals that BMC commands 43.4% of the global mining network. Launched on August 9, 2023, by the collaborative global forum of bitcoin (BTC) mining entities, the survey highlights a surge in BMC membership’s hashrate from 24 exahash per second (EH/s) in Q1 2022 to 158 EH/s in Q2 2023. The data underscores a noteworthy shift towards sustainable energy, with BMC members employing a 63.1% sustainable power mix. The Bitcoin network’s technological efficiency rose by 24%, comparing 21.1 EH/s per gigawatt (GW) in H1 2022 to 26.1 EH/s per GW in the corresponding period of 2023.
Ben Gagnon, Bitfarms’ Chief Mining Officer, hailed the network’s strength, security, and growth, noting significant energy curtailment, particularly in the U.S. and Canada, during peak demand, showcasing Bitcoin mining’s role in grid stability and beyond.
Clever Robot News Desk 13th August 2023
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