Sustainable Bitcoin Mining at 60%: BMC

BMC, a voluntary global forum of Bitcoin mining companies, announced the key findings of its Q1 2022 survey.

A stock photo featuring a man holding a wind turbine model

The share of the sustainable electricity mix in global Bitcoin mining is now 58.4%, up from 36.8% a year earlier, corresponding to the 59% yearly increase. Additionally, the global Bitcoin mining efficiency grew by 63% from 12.6 exahash (EH) per gigawatt (GW) in Q1 2021 to 20.5 EH per GW in Q1 2022 “due to advances in semiconductor technology, the rapid expansion of North American mining, the China Exodus, and the worldwide adoption of sustainable energy and modern Bitcoin mining techniques.”

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The BMC claims it was the first time it collected data from the record 50% of the global Bitcoin network. “The BMC membership hashrate increased from 29 EH at its inception, to 101 EH in Q1 2022.

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In only one year’s time, the BMC now represents 50% of the global Bitcoin Mining Network with members spread across five continents,” Darin Feinstein, the co-founder of Core Scientific and the BMC, said.