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Renewable energy powers 74.1% of bitcoin (BTC) mining

  • Bi-annual report says average miners are “highly profitable”
  • High-cost producers can also drive significant ROI
  • Renewable estimate falls from 77.8% in November 2018

Renewable energy is now responsible for 74.1% of all bitcoin (BTC) mining according to a new report published by investment product enterprise CoinShares.

The study found the “average miner” is now capable of being “highly profitable” at BTC’s current value even if they do not have access to cutting edge tech or gear.

While renewable energy powers the vast majority of mining, its usage has fallen from the 77.8% figure recorded in the previous report released in November 2018. CoinShare said this reflects “increased visibility of the industry on our part as well as movements within the industry”.