A report into Bitcoin mining has determined that Bitcoin is not the environmental disaster it is often painted as in the media. It turns out that the sophisticated computer units securing the network are mostly being powered by clean, renewable energy.
The revelation comes at the same time that Bitcoin hash rate is close to its all-time high. This means that the network itself is also close to the most secure it has ever been.
Bitcoin Miners Favour Green Energy: Take That, Environmentalists!
It looks like one of the Bitcoin naysayers’ favourite arguments might soon be obsolete. Researchers from CoinShares claim that the network is actually running on around 75 percent renewable energy.
The crypto investment products and research firm have just published the third instalment of its Bitcoin Mining Report.
Much of the report focuses on the profitability of Bitcoin mining. It states that Bitcoin can currently be mined profitably at a price of around $3,300 / BTC.