Bitcoin energy consumption Year-on-Year has reportedly increased by 41% despite the improvement in its mining efficiency. The Q3 2022 report published by a Bitcoin mining company Bitcoin Mining Council shows that Bitcoin mining consumes 0.16% of global energy production and accounts for 0.10% of the world’s carbon emissions. It is believed that the rise in energy consumption is due to the increase in the network’s hashrate. The report also expresses concerns that a further increase in Bitcoin energy consumption may lead to tighter measures by regulators on Bitcoin mining activities.

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