{"id":68825,"date":"2022-10-19T16:40:39","date_gmt":"2022-10-19T13:40:39","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68825"},"modified":"2025-09-07T16:15:42","modified_gmt":"2025-09-07T13:15:42","slug":"bitcoin-energy-consumption-rose-41-year-over-year","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-energy-consumption-rose-41-year-over-year\/","title":{"rendered":"Bitcoin energy consumption rose 41% year over year."},"content":{"rendered":"<p>In Q3 2022, Bitcoin&#8217;s network hash rate rose 73% year over year. Energy consumption rose by only 41%, according to the Bitcoin Mining Council (BMC) report.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">In Q3 2022, <a href=\\\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitcoin<\/a> mining efficiency increased 23% YoY, and sustainable power mix was 59.4%, above 50% for the 6th quarter in a row. The network was 73% more secure YoY, only using 41% more energy, and is now 99% of all crypto hashing power.<a href=\\\"https:\/\/t.co\/B0jlkWHYgg\\\">https:\/\/t.co\/B0jlkWHYgg<\/a><\/p>\n<p>\u2014 Michael Saylor\u26a1\ufe0f (@saylor) <a href=\\\"https:\/\/twitter.com\/saylor\/status\/1582462045144125443?ref_src=twsrc%5Etfw\\\">October 18, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The Bitcoin Mining Council (BMC) <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-discusses-prospects-for-green-bitcoin-mining-with-miners\">was created in May 2021<\/a> on the initiative of <a href=\"https:\/\/u1f987.com\/en\/news\/michael-saylor-to-step-down-as-microstrategy-ceo\">the then-CEO<\/a> of MicroStrategy <a href=\"https:\/\/u1f987.com\/en\/news\/michael-saylor-the-microstrategy-founders-biography-and-views\">Michael Saylor<\/a> after a meeting with Elon Musk. Founders also included mining companies Argo Blockchain, Hive Blockchain, Hut 8, Riot Blockchain, Marathon Digital Holdings, Core Scientific, and Mike Novogratz&#8217;s Galaxy Digital.<\/p>\n<p>According to the report, participants in the BMC account for 45.4% of Bitcoin&#8217;s computing power. The share of green energy in the metric stands at 67.9%.<\/p>\n<p>Based on these data, the organization suggested that in aggregate hashrate, green energy accounts for 59.4% of generation. This is about 3 percentage points higher than a year earlier.<\/p>\n<p>Mining efficiency over this period rose by 23% \u2014 from 17.7 EH\/GW to 21.7 EH\/GW.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cThe network has become 73% more secure than a year ago, consuming only 41% more energy, and now accounts for 99% of all crypto hashing power,\u201d wrote Saylor.<\/p>\n<\/blockquote>\n<p>In the second-quarter report, the organization said that mining efficiency <a href=\"https:\/\/u1f987.com\/en\/news\/report-bitcoin-mining-energy-efficiency-up-46-year-on-year\">rose by 46%<\/a>.<\/p>\n<p>Earlier, researchers from the University of New Mexico, with regard to environmental impact, <a href=\"https:\/\/u1f987.com\/en\/news\/scientists-call-bitcoin-digital-oil-because-of-its-climate-impact\">described Bitcoin as &#8220;digital oil&#8221;<\/a>.<\/p>\n<p>The European Commission said that EU member states <a href=\"https:\/\/u1f987.com\/en\/news\/european-commission-warns-of-a-potential-suspension-of-crypto-mining-in-the-eu\">should prepare<\/a> to suspend cryptocurrency mining on the <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-proof-of-work-pow-algorithm\">Proof-of-Work<\/a> algorithm, \u201cif there is a need to smooth out load on electrical systems\u201d.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin&#8217;s hash rate rose 73% year over year in Q3 2022, while energy consumption increased by only 41%, according to a Bitcoin Mining Council (BMC) report.<\/p>\n","protected":false},"author":1,"featured_media":68826,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1259],"class_list":["post-68825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-ecology"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=68825"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68825\/revisions"}],"predecessor-version":[{"id":68827,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68825\/revisions\/68827"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/68826"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=68825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=68825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=68825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}