The research found that coal remains the highest single power source for Bitcoin miners.
A new study published Tuesday by the Cambridge Center for Alternative Finance shows that almost 62% of Bitcoin’s total energy consumption since January 2022 was generated from fossil fuels. This means renewable sources only amounted to 38% of the total energy consumed by BTC miners this year.
Coal alone recorded a significant growth of nearly 37% of the total Bitcoin energy consumption in early 2022, making it the highest single power source for mining activities. This is similar to the 40% of coal energy consumed in 2020.Regarding sustainable energy sources, hydropower led with a 15% share of the total energy sources used in BTC mining. However, hydropower consumption saw a massive decline, as it dropped from 34% in 2020 to 15% in 2021.
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