CoinShares: 74% BTC mining is carried out thanks to renewable energy sources

Employees of the CoinShares research company found out that 74.1% of Bitcoin mining is conducted through the use of renewable energy sources.

The report from CoinShares states that, at current rates, mining can be considered quite profitable, since even the equipment that is not relevant for computing operations and the cost of miners can provide a good return on investment (ROI). The report also draws attention to the fact that BTC-mining activities are mostly concentrated where there are renewable energy sources.

The correlation between BTC mining and the use of renewable energy sources has shown that it is miners who use alternative energy sources more than any other industry in the world. And yet, as noted by CoinShares representatives, in November last year, the figures were slightly higher – then 77.8% of BTC mining operations were carried out thanks to alternative energy.

The report from CoinShares also notes that since the end of autumn 2018, the Bitcoin network hash rate has increased by 10 EH / c – from 40 EH / c to 50 EH / c. The company believes that the growth is due to the fact that obsolete equipment has become profitable for mining, and also this is associated with the release of more efficient ASICs.