Bitcoin Mining Achieves All-Time High of 54.5% Sustainable Energy Usage in 2023

Bitcoin ESG Forecast’s recent blog post revealed that the Bitcoin mining sector has reached an unprecedented milestone, utilizing sustainable energy at an all-time high of 54.5%. The data, sourced from the Bitcoin Energy and Emission Sustainability Tracker (BEEST) model, indicates a notable 3.6% increase in sustainable mining activities throughout the 2023 calendar year. Bitcoin mining emerges as the leading user of sustainable energy among various sub-sectors, showcasing its commitment to environmentally friendly practices. The report also highlights efforts by some mining companies to leverage vented methane gas for electricity, contributing to a 7.3% reduction in the Bitcoin network’s total emissions without offsets. Tether’s hydro mining initiatives in Latin America and the exploration of off-grid methane-reducing mining activities further underscore the industry’s dedication to sustainable energy practices. The shift of miners to greener grids in North America, following China’s mining ban and restrictions in Kazakhstan, is contributing to an annual 0.7% improvement in global grids’ environmental impact and a 29% reduction in emission intensity for on-grid Bitcoin miners compared to 2021. (Source: Cointurk news)