A few weeks ago, a report was published revealing that the use of renewable energy in Bitcoin mining has effectively doubled over the past decade.
This has disrupted the use of electricity produced from fossil sources such as coal.
Bitcoin mining report
Report, title “The Future Mining: Bitcoin’s Renewable Energy Footprint and the Road to 2030“It was published by the Mica Crypto Alliance and created in collaboration with Nodiens.
This is a 19-page PDF that analyzes the environmental impact of Bitcoin mining’s energy consumption, focusing on what is called “so-called”.Carbon dioxide emissions“CO2 emissions.
The key point of the report is 4.
The first is the conclusion that Bitcoin mining is actually much more environmentally friendly. In fact, the share of renewable energy in its energy mix grew between 2011 and 2024. 20% to 41%.
In other words, it almost doubled in 13 years, and now it has reached almost half the energy consumption of Bitcoin mining around the world.
The second important point is perhaps the most sensational.
In fact, the report states that the use of coal as an energy source for Bitcoin mining for the same period has decreased from 63% to 20%.
This is a real collapse considering coal is a much smaller source of energy, as it is the most used energy source in Bitcoin mining (particularly China), and is now less than half of renewable energy.
The report concludes that at this rate, Bitcoin mining is expected to be at least supplied by 2030. 70% from sustainable energy sources.
But the fourth and final point warns that carbon emissions could absolutely increase for several more years, especially if Bitcoin prices go through other bull phases before they stabilize and eventually decline.
Ibañez, Capi
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Data from Nodiens, based on this report, shows a clear trend towards greater use of renewable energy sources, driven not only by integrated economic incentives in Bitcoin, but more than anything else, by global advances in technological advancements and sustainability.
Nodiens is in fact a metric platform that provides economic insights and social health scores on over 4,000 cryptocurrencies, including over 300 ESG parameters on climate impacts and decentralization.
His data is collected daily from over 10 million data sources on platforms such as Telegram, X, Reddit, Yahoo Finance, StockTwits, and GitHub.
Nodiens is also an important partner of the Mica Crypto Alliance.
Mica Crypto Alliance
Mica Crypto Alliance Help businesses navigate complex regulatory environments.
Alliance members, for example, have access to a wide range of ESG data sets, allowing them to meet MICA legal and environmental standards.
One of the activities of the Mica Crypto Alliance is the creation of white papers that are compliant with Mica and the production of sustainability data. This is because starting December 2024, it will become a legal requirement for all cryptocurrencies within the EU.
In fact, according to the new EU regulations on cryptocurrency markets (MICA), entities that want to publicly offer cryptocurrencies or list them to trade on European Union platforms, along with relevant sustainability data, also apply to Crypto Service Providers (CASPs), such as CRYPTO service providers and Cundia’s foundations.
nodiens
Last week, Nodiens announced the launch of a platform that monitors more than 100 financial, community and ESG risk parameters with over 4,000 Web3 assets.
Among these parameters are price, market capitalization, volume, concentration, liquidity concentration, pairs, and DEPEG rates for both CEX and DEX.
There are also parameters that monitor trend topics from X, Telegram, Reddit, Github, Stock Twits and Yahoo Finance thanks to their mood, trust, and popularity indexes, detect operations, assess emotions, and catch the first warning sign.
Other parameters analyze energy consumption, decentralization index, node distribution, and transaction productivity for over 200 blockchains.
Additionally, Nodiens’ Data Intelligence Team publishes monthly articles covering main protocol trends, on-chain behavior, community health and risk dynamics.
