“Coinmetrics reports highlight a noteworthy enhancement in Bitcoin network’s energy efficiency by about 60% since July 2018, due to the arrival of superior, more efficient machines. Additionally, CoinShares’ research indicates that a substantial 74.1% of Bitcoin mining energy originates from renewable sources.”
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Significant Improvements in Bitcoin’s Energy Efficiency: Promise or Peril?
Bitcoin’s energy efficiency has improved by about 60% since 2018 due to more efficient mining systems. This gain in efficiency is critical as concerns rise about the environmental impact of Bitcoin mining activities. This progress is matched with a trend towards sustainable energy sources, with 74.1% of Bitcoin’s mining power now coming from renewable energy sources.