Topic: Nuclear and gas fastest growing energy sources for Bitcoin mining: Data - page 2. (Read 384 times)
September 27, 2022, 07:34:12 PM
Time after time more countries are getting into Nuclear energy resources and this will make some changes in bitcoin mining too, for example in many countries are planning for it to start using Nuclear energy resources for that purpose but still no matter if we are talking about Nuclear energy sources to gas and fossil energy sources because both of them are not renewable as far as I know the best option is always to move on renewable resources such as sun and wind power generators which is more clear and renewable and more suitable for bitcoin mining which is getting more famous in the world.
September 27, 2022, 09:58:28 AM
How can this data be verified as an estimated percentage of Bitcoin mining comes from unknown sources and therefore it is difficult to say for certain the nature of the energy they get.
Bitcoin mining is an activity that is only related to obtaining cheap energy, and whenever renewable sources are cheap, they will move to them.
Bitcoin mining is an activity that is only related to obtaining cheap energy, and whenever renewable sources are cheap, they will move to them.
September 27, 2022, 09:56:26 AM
Mining is gonna get unbearable if something isn't done about the contrary changes.
It's transitioning to renewable sources. What's unbearable about that?If Coal for just an annual mining has sniped itself that high, then they'll have to be some rejuvenations towards the mempools itself.
Two things:- What does mempool have to do with coal spending?
- Coal is already getting more expensive, so you should expect less coal use over time.
I have learnt that it's not even that profitable these days
We recently hit an all time high difficulty. It's obviously profitable for some miners. 
September 27, 2022, 08:48:49 AM
Mining is gonna get unbearable if something isn't done about the contrary changes.
If Coal for just an annual mining has sniped itself that high, then they'll have to be some rejuvenations towards the mempools itself.
I have learnt that it's not even that profitable these days; even when they're running with GPU. The worst part of the story is that it's now becoming unnecessarily disastrous. I just hope something is done about the whole thing cus the world might take the chance to complain and/ refuse it resentments due to the recent pollutions.
Sandra 👩🦱
If Coal for just an annual mining has sniped itself that high, then they'll have to be some rejuvenations towards the mempools itself.
I have learnt that it's not even that profitable these days; even when they're running with GPU. The worst part of the story is that it's now becoming unnecessarily disastrous. I just hope something is done about the whole thing cus the world might take the chance to complain and/ refuse it resentments due to the recent pollutions.
Sandra 👩🦱
September 27, 2022, 06:12:43 AM
I'm hopeful that the shift toward cleaner sources of energy will be swift. It's important to break away from what's ruining our environment, and if Bitcoin can shift, it'll be inspiring for other industries as well as help Bitcoin's reputation. I still don't think that Bitcoin should be blamed on the scale it gets blamed, as electricity sources are often not something people can easily choose (there's a big role played by the country you live in, and how its energy system operates). Moreover, the argument that Bitcoin mining is unnecessary and should thus be stopped doesn't quite hold when there's tons of gaming people do, which also isn't necessary and affects the environment, and yet nobody's strongly campaigning against GPU and CPU companies to make them stop making even more power-hungry products.
September 27, 2022, 05:52:49 AM
I think it is a good transition ...
Critics who formerly used to fault the danger to environment mining bitcoin with non sustainable energy will need a new reason as that one is becoming less valid with the transitioning. With more transitioning to sustainable energy sources we will have lesser air pollution as carbon emissions will be reduced thus having a safer environment. 
September 27, 2022, 05:36:56 AM
Bitcoin Mining Council report has an information that the percent of sustainable electricity mix has increase of 6% from 2021 to 2022, Q2.
I think it is a good transition but it is a normal change because more geographical areas have been involved in bitcoin mining. We see in newly adopted locations for Bitcoin mining, they have good sustainable electricity resources.
I think it is a good transition but it is a normal change because more geographical areas have been involved in bitcoin mining. We see in newly adopted locations for Bitcoin mining, they have good sustainable electricity resources.
Quote
Based on this data it is estimated that the global bitcoin mining industry's sustainable electricity mix is now 59.5% or had increase approximately 6% year-on-year, from Q2 2021 to Q2 2022, making it one of the most sustainable industries globally.
September 27, 2022, 05:23:27 AM
We can see on the images how fossil fuel energy production is decreasing, while clean energy production like natural gas and nuclear energy are increasing.
With fossil fuels getting overly expensive, this is a normal direction. Miners can use only the cheapest energy, else they will mine at a loss.
Especially with China ban on mining and the energy war Russia is doing against the world, this is pretty much what we have now.
September 27, 2022, 02:38:58 AM
https://cointelegraph.com/news/nuclear-and-gas-fastest-growing-energy-sources-for-bitcoin-mining-data
According to the report, coal alone accounts for 37% of total bitcoin mining electricity consumption in 2022. Among sustainable energy source, hydroelectric power accounts for 15%. In the report, clean energy generation for mining bitcoin has increased if compared to 2021.
We can see on the images how fossil fuel energy production is decreasing, while clean energy production like natural gas and nuclear energy are increasing.
According to the report, coal alone accounts for 37% of total bitcoin mining electricity consumption in 2022. Among sustainable energy source, hydroelectric power accounts for 15%. In the report, clean energy generation for mining bitcoin has increased if compared to 2021.
Quote
Despite Bitcoin mining significantly relying on coal and hydropower, the shares of these energy sources in the total BTC energy mix have been dropping over the past several years. In 2020, coal power powered 40% of global BTC mining. Hydropower’s share has more than halved from 2020 to 2021, tumbling from 34% to 15%.
We can see on the images how fossil fuel energy production is decreasing, while clean energy production like natural gas and nuclear energy are increasing.
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