In the present time Bitcoin blockchain network is running on more sustainable sources of green energy than any other industry.
Bitcoin (BTC), the top crypto asset by marketcap, is currently in huge hype among every type of financial market because of the high bullish sentiments in this innovative market. The current trade price of Bitcoin is $36,276 & this trade price is 25% higher than the last 30 days of the trade price.
In the past several times Bitcoin has been criticised by the traditional market investors & environment activists, as the Bitcoin blockchain network consumes huge amounts of electricity to execute & verify the transactions.
The latest data show that the Bitcoin network is currently running on 52.6% sustainable sources of energy. According to a report by Daniel Batten, co-founder of CH4Capital.com and investor in sustainable technologies, this makes Bitcoin unique as there is no such industry which operates on sustainable sources of energy to this degree.
This research found that mining the Proof-of-Work (PoW) cryptocurrency uses more sustainable energy than the banking sector (39.2%), industrial sector (32%), agricultural sector (19.6%), gold industry (12.8%), as well as iron and steel industry (9.8%).
Currently, only 46.2% of Bitcoin mining operations run on those sources of energy which come from fossil fuels.
While all the other industries in the world depend on 63.3% of fossil fuels generated electricity.
Batten noted that efforts in the Bitcoin mining investment are increasing and the majority of the investment is focused on using sustainable sources of energy.
Recently top stablecoin USDT issuer Tether decided to invest $500 million in Bitcoin mining outside the US jurisdiction. That mining operation will be 100% dependent on renewable sources of energy.
With the increasing growth of the Bitcoin sector, the emission of CO2 due to Bitcoin mining operations is decreasing rapidly.
Over the past 4 years, the Bitcoin network hash rate surged by 475% and in the same time frame CO2 emissions due to Bitcoin mining activities plunged -by 9.4%.