Bitcoin (BTC) mining is converting green and eco-friendly in U.S. Kazakhstan and China with seven other top countries. Bitcoin mining is getting heat these days and many countries are emphasizing sustainable practices for cost-effective and eco-friendly bitcoin (BTC) mining.
A significant shift has been observed in the crypto industry toward renewable energy resources. A significant BTC portfolio manager named Seth has pointed out the significance of this trend through a report by Visual Capitalist. This report discloses a list of countries seeking renewable resources for eco-friendly Bitcoin mining.
10 Leading Countries in Bitcoin Mining
The report given by Visuals Capitalist highlights that 10 leading countries are working on Bitcoin mining based on various factors like annual temperature, electricity cost, and regulatory environment. These factors directly influence the decision of miners for establishing and operations of Bitcoin mining.
As per the list Thailand, Singapore, Ireland, Malaysia, Germany, Russia, Canada, United States, China and Kazakhstan are striving for sustainable and renewable energy resources for BTC mining. These top 10 countries account overall 93.8% hash rate of the Bitcoin network. More significantly China, Kazakhstan and the United States hold the lion’s share of BTC mining practice and are prominent in the crypto industry.
Renewable Energy Practices
Eco-friendly Bitcoin mining depends on the energy source. Globally, miners use 348 terawatt-hours yearly and using renewables is crucial to cut the environmental impact. In the U.S., 22.5% of energy is renewable. China and Kazakhstan have 30.2% and 11.3%. Kazakhstan relies on coal, making its renewables low at 60%. China, despite some coal use, has a higher share due to expanding wind and solar power.
Opportunities and Challenges in Eco-friendly BTC Mining
While renewable energy adoption grows, Bitcoin mining struggles with sustainability due to coal reliance in certain areas. Innovative solutions are crucial for eco-friendly mining. Countries with abundant renewable resources like Canada and the United States can attract Bitcoin miners, leveraging their wind and solar potential.
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