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How Bitcoin Mining is Now More Energy Efficient than Ever
As a developer, efficiency is very important. That’s why making good software is not easy. The value of an experienced programmer is not really that he/she wrote more lines of code than anyone else, but the ability to work efficiently.
I believe that achieving the same result with fewer resources is key to success. And that’s why Bitcoin is here to stay.
The future of Bitcoin is looking bright
In 2020 Bitcoin will consume more power than the world does today
15 dec 2017 — World Economic Forum
The Bitcoin Mining Council has released the results of its latest data analysis on energy consumption by the mining industry, which shows that:
- Bitcoin mining consumes 0.16% of the world’s energy production
- Bitcoin mining consume 0.085% of the world’s CO2 production
And most importantly, total hashrate increased by 23% YoY but energy consumption decreased by 25%, caused by an increased mining efficiency of 63%
As a result, Bitcoin is the industry leader in sustainability with a 58% sustainable energy mix.
