The percentage of the global bitcoin mining industry using renewable energy increased by 1% to 58.5% in the fourth quarter of 2021, according to new data.
The Bitcoin Mining Council (BMC) announced the results of its fourth quarter survey on Jan. 18.
The study focused on three metrics: sustainable energy mix, technology efficiency and electricity consumption.
Founded in May 2021. BMC is a voluntary global forum of bitcoin mining companies such as Bit Digital, BitFury, Bitfarms and Atlas Mining, as well as other industry organizations.
The voluntary survey gathered information on sustainable energy from miners representing more than 46% of the global Bitcoin network. According to the survey, members of the Mining Council alone use electricity in a sustainable energy mix of 66.1%.
The self-reported data was then used to estimate that the sustainable energy mix of the global Bitcoin mining industry was about 58.5% in the fourth quarter, up one percentage point from the third quarter. The industry's estimated technology capacity also increased by 9%, to 19.3 petas per MW.
Core Scientific and BMC co-founder Darin Feinstein noted that hashrate of participating BMC members increased 77% in the fourth quarter.
