At the end of May last year, Tesla’s Elon Musk convinced bitcoin industry leaders to form a Bitcoin Mining Council (BMC) and in mid-July, the BMC launched its public services and website. On April 25, 2022, the organization published a report that discusses the bitcoin mining industry’s improvements in sustainable energy use during the first quarter of 2022. The BMC report’s findings show Bitcoin’s electricity usage dropped by 25% in Q1 2022 compared to the year prior. Bitcoin Mining Council Publishes Q1 2022 Covering Mining Industry’s Sustainable Power Mix and Technological Efficiency According to the latest Bitcoin Mining Council (BMC) report, the bitcoin mining industry continues to improve its sustainable energy use and technological efficiency. The Q1 2022 survey conducted by the BMC, showcases three metrics which include: “electricity consumption, technological efficiency, and sustainable power mix.” BMC researchers managed to survey roughly 50% of the network’s hashpower, w
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