BTC mining power consumption dropped by 24% to practicing sustainable development

It is reported that since the end of July 2024, the power consumption of Bitcoin mining has decreased by 24%, from 152.52 TWh to 115.21 TWh.

The reduction in energy consumption may be partially attributed to the more sustainable practices adopted by Bitcoin miners, including the shift to hydro-powered mining. For example, after the completion of the Grand Ethiopian Renaissance Dam, Ethiopia has become a potential new center for Bitcoin mining. Reports show that 21 BTC mining companies have signed agreements to utilize the country's affordable and abundant renewable energy.

Some professionals have pointed out the view that Bitcoin mining is essentially harmless to the environment. The contribution of BTC mining to greenhouse gas emissions is less than the electricity production it uses. Its power consumption only accounts for 0.55% of the global electricity demand.

The Bitcoin community is still persistently exploring methods to enhance energy efficiency and alleviate environmental impacts, and has initiated campaigns such as the Bitcoin Council to promote sustainable mining practices.