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Crypto Miners Increase Energy Consumption by 60% in a Year

ByLouis Adams

Apr 27, 2022 #mining
Reading time: < 1 minute

The Mining Council (BMC), which was created last June at the initiative of MicroStrategy CEO Michael Saylor, has recently published a study in which they have noted that mining power consumption has increased by about 59% over the past year.

The council includes 44 companies mining Bitcoins and claiming to increase their share in the BTC hashrate by more than 50%.

The miners on the council said that up to 58% of Bitcoin power is generated using renewable energy sources, including wind farms and solar panels. Compared to the first quarter of 2021, the share of “green mining” has grown significantly, then it was about 36%.

Over the past year, the Bitcoin hashrate has increased by 23% from 164.9 to 202.1 (EH/s). The researchers have emphasized that mining efficiency has increased by 63% over the year, or 5,813% compared to 2014.