Bitcoin energy pivot achieves what ‘few industries can claim’

While the Bitcoin network has continued to expand over the years, the Bitcoin mining industry has yet to see a comparable increase in carbon footprint — an achievement that a Bloomberg analyst argues “few industries can claim.”

This, in turn, could drive the next wave of institutional investment.

On Sept. 20, Bloomberg crypto market analyst Jamie Coutts cited data showing that the sustainable energy mix for Bitcoin has continued to rise since 2021 and is now over 50%. This has led to the growth of emissions slowing relative to the network’s continued expansion.

He said that the evolving relationship between Bitcoin network growth and the global push to transition from fossil fuels could “catalyze a wave of institutional and even sovereign investment capital.”

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Sep-21-2023 08:04:05 AM