Cambridge Study Reveals Over 52% of Bitcoin Mining Uses Sustainable Energy
The University of Cambridge published a study indicating that over 52.4% of Bitcoin mining is powered by low-carbon or renewable energy sources. North America leads in the lowest carbon emissions associated with Bitcoin mining.
Key Findings on Bitcoin Mining's Energy Sources
- Renewable energy accounts for more than 52.4% of Bitcoin mining electricity.
- Hydropower: 23.4%
- Wind: 15.4%
- Nuclear: 9.8%
- Solar: 3.2%
- Fossil fuels comprise 47.6% of energy used.
- Natural gas: 38.2%
- Coal: 8.9%
- Oil: 0.5%
- The U.S. leads in sustainable crypto energy, with North America responsible for 80% of sustainable Bitcoin mining.
Global Bitcoin mining activity distribution by country. Source: jbs.cam.ac.uk
The publication aims to assist policymakers with insights into the digital mining industry's complexities and environmental impact.
Tesla's Potential BTC Acceptance
In 2021, Tesla initially accepted Bitcoin as payment but later reversed the decision due to environmental concerns. CEO Elon Musk indicated that Tesla may resume accepting Bitcoin if at least 50% of mining uses renewable energy. This threshold has been met, but no updates have been provided regarding Tesla's plans to accept Bitcoin again.