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- A report from Visual Capitalist highlights the leading 10 countries in Bitcoin (BTC) mining that have transitioned towards a green energy mix.
- The U.S., China, and Kazakhstan reported shares of renewable energy at 22.5%, 30.2%, and 11.3%, respectively.
- Iceland, Paraguay, and Norway are at the forefront of renewable energy, although they account for just over one percent of the global Bitcoin mining network.
Recently, X user Seth, a Bitcoin portfolio manager, emphasized the expanding eco-friendly Bitcoin mining landscape, noting that an increasing number of miners are turning to renewable energy sources.
This is how green #Bitcoin mining is ATM per country.
#1 USA
#2 ChinaMost Bitcoin mining is now powered by Renewable energy!
Image from Visual Capitalist.$BTC #bitcoinmining pic.twitter.com/hmvawNoHao
— Seth (@seth_fin) January 22, 2024
Seth referenced a Visual Capitalist report that examines the nations with the most environmentally sustainable conditions for Bitcoin mining, including China and the United States.
Visual Capitalist pointed out that Bitcoin miners’ choices regarding their locations are shaped by factors such as the regulatory landscape, electricity prices, and average outdoor temperatures.
See Also: The Most Crypto-ready Cities In 2024
Considering mean annual temperatures, the top 10 Bitcoin mining countries are the U.S., China, Kazakhstan, Canada, Russia, Germany, Malaysia, Ireland, Singapore, and Thailand.
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Additionally, the report noted that these leading 10 countries in Bitcoin mining together account for 93.8% of the total network’s hash rate, with the U.S., China, and Kazakhstan holding the largest shares.
The report states that Bitcoin miners consume approximately 348 terawatt-hours of electricity each year.
Importantly, the U.S., China, and Kazakhstan reported renewable energy shares of 22.5%, 30.2%, and 11.3%, respectively. Kazakhstan’s relatively low renewable share is due to its significant dependence on coal, which constitutes 60% of its energy mix.
Conversely, while China also relies heavily on coal for a considerable part of its electricity, its overall renewable share is higher because of its rapid advancements in wind and solar energy.
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Meanwhile, the report indicated that countries such as Iceland, Paraguay, and Norway are leaders in renewable energy.
However, collectively, they represent just over one percent of the global Bitcoin mining network.
The post Here Are Top 10 Countries With a Green Energy Mix for BTC Mining appeared first on BitcoinWorld.
