Bitcoin mining is environmentally friendly according to latest report
- CoinShares conducted a report recently which detailed that Bitcoin mining sector is actually eco-friendly.
- The claims come as they note the extensive use of renewable energy
Bitcoin mining sector is principally environmentally friendly due to the extensive use of renewable energy, according to a recent research report. It was conducted by CoinShares, a digital asset investment and research firm.
CoinShares head researcher detailed that the present percentage of renewable power production in the BTC mining energy is more than seventy-four percent, which is more than the global average energy mix.
The report also noted that there was some noticeable association between the hash rate and other macro trends, which are related to the mining industry. In terms of the hash rate, it increased around twenty-five percent between 2018 and 2019. The hash rate bottomed out parallel with the drop in the BTC price.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
