Michael Saylor: Bitcoin's energy costs have dropped by a quarter

Michael Saylor: Bitcoin’s energy costs have dropped by a quarter

A group of Mining companies posted a report stating that Bitcoin Mining power consumption was down 25% in January-March compared to the same period in 2021. Michael Saylor, CEO of board member MicroStrategy, said that Bitcoin Mining hash rate was up 23 percent year-over-year, while energy consumption was down 25 percent due to a 63 percent increase in Mining efficiency.

The businessman noted that Bitcoin “uses a negligible amount of global energy (16 bits per second) and generates negligible carbon emissions (8 bits per second). Saylor added that the first Cryptocurrency’s Blockchain is “an industry leader in sustainability”.

“We have seen a 63% year-over-year increase in efficiency due to advances in semiconductor technology, the rapid expansion of mining in North America, the exodus from China and the widespread adoption of sustainable energy and modern Bitcoin Mining techniques”

said the MicroStrategy head

BMC is a group of 44 Bitcoin mining companies, accounting for about 50% of the Bitcoin World Wide Web’s hash rate, or 100.0 exascale (EX/c). The CPA report was the result of data collection from the council’s member companies about their electricity consumption, sources and hash rate.

The report was released shortly after a group of U.S. congressmen asked the U.S. Environmental Protection Agency (EPA) to analyze whether

Mining companies were complying with environmental laws.

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Written by Renat
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