Study: Over 74% of Bitcoin Mining is Powered by Renewable Energy
Cryptocurrency investment products and research firm CoinShares estimates that 74.1% of bitcoin (BTC) mining is powered by renewable energy in its bi-annual mining report published on June 5.
The report also claims that “at current prices, the average miner is highly profitable, with even older gear and high-cost producers currently able to make positive ROI.” The paper also notes that bitcoin mining operations are concentrated where there is ample renewable energy supply. Still, the report also notes:
“The renewables estimate is down from 77.8% in our November 2018 report and reflects increased visibility of the industry on our part as well as movements within the industry.”