A few weeks ago, a report was released that showed that the share of renewable energy in Bitcoin mining has almost doubled over the past ten years.

This has also helped reduce the consumption of electricity produced from fossil resources such as coal.

Summary

• Bitcoin Mining Report
• MiCA Crypto Alliance
• Nodience

Bitcoin Mining Report

The paper, titled “Mining the Future: Bitcoin’s Renewable Energy and the Path to 2030, ” was published by the MiCA Crypto Alliance and produced in collaboration with Nodiens.

It's a 19-page PDF that examines the environmental impact of Bitcoin mining energy consumption, focusing on the so-called “carbon footprint” or CO2 emissions.

The report highlights four key points.

The first conclusion is that Bitcoin mining is becoming significantly more environmentally friendly. In fact, between 2011 and 2024, the share of renewable energy in its energy mix increased from 20% to 41%.

In other words, in thirteen years this share has almost doubled and now accounts for approximately half of the energy consumed in global Bitcoin mining.

The second important point is probably the most shocking.

The report found that the use of coal as an energy source for Bitcoin mining fell from 63% to 20% over the same period.

That's quite a drop, considering that coal was once the most common energy source for Bitcoin mining (especially in China) and now accounts for less than half of the share of renewables.

The paper concludes that at current rates, more than 70% of Bitcoin mining will be powered by renewable energy sources by 2030.

However, the fourth and final point cautions that in absolute terms, carbon emissions could continue to increase for several more years, especially if the Bitcoin price goes through other growth phases before stabilizing and eventually starting to decline.

The report was prepared by Aayush Ladda of the DLT Science Foundation, Juan Ignacio Ibañez of the MiCA Crypto Alliance, Kamil Tylinski and Paolo Tasca of Nodiens.

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Nodiens data

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The Nodiens data on which this report is based shows a clear trend towards increased use of renewable energy, driven by the economic incentives built into Bitcoin, as well as technological advances and a global push for sustainability.

Nodiens is a true metrics platform that provides financial analytics and social health assessments on over 4,000 cryptocurrencies, including over 300 ESG metrics related to climate impact and decentralization.

Its data is collected daily from over 10 million sources on platforms such as Telegram, X, Reddit, Yahoo Finance, Stocktwits and GitHub.

Nodiens is also an important partner of the MiCA Crypto Alliance.

MiCA Crypto Alliance

Cryptocurrency alliance MiCA helps companies navigate the complex regulatory environment.

Alliance members gain access, for example, to a comprehensive set of ESG data, enabling them to meet MiCA's legal and environmental standards.

One of the activities of the MiCA Crypto Alliance is the creation of official documents that comply with the MiCA requirements, as well as the preparation of sustainability data, as they will become mandatory for all cryptocurrencies in the EU from December 2024.

In fact, according to the new EU Markets in Cryptocurrency Regulation (MiCA), any entity wishing to publicly offer cryptocurrency or list it for trading on a platform in the European Union must publish a corresponding MiCA white paper along with the required sustainability data. This also applies to cryptocurrency service providers (CASPs), such as exchanges and custodial wallet providers.

Nodience

Last week, Nodiens announced the launch of its platform, which tracks over 100 financial, societal and ESG risk parameters for over 4,000 Web3 assets.

These parameters include prices, market cap, volumes, liquidity concentration and cost, as well as stablecoin peg pairs and rates on both CEX and DEX.

There are also metrics that track real community engagement using sentiment, trust, and popularity indices, as well as trending topics on X, Telegram, Reddit, Github, Stock Twits, and Yahoo Finance, which allows you to identify manipulation, assess sentiment, and detect early warning signs.

Other parameters analyze energy consumption, decentralization index, node distribution, and transaction performance on over 200 blockchains.

Additionally, the data analytics team at Nodiens publishes monthly articles that look at trends, network behavior, community health, and risk dynamics across major protocols.

Source: cryptonews.net