The Bitcoin Mining Council (BMC) has released its quarterly report on the state of the bitcoin mining industry, focusing on energy consumption, technological efficiency and environmental metrics.

At the end of the second quarter of 2022, the total hashrate of BMC members was 107.7 EH/s, which is more than 50% of the total.

Compared to April-June 2021, network computing power increased by 137% and power consumption increased by 63%. Mining efficiency increased by 63% during the year. Changed hashrate generation per MW from 14.4 EH to 21.1 EH.

“We are seeing a 46% year-on-year increase in energy efficiency thanks to advances in semiconductor technology, the rapid expansion of mining in North America, immigration from China, widespread adoption of sustainable energy, and modern equipment,” said Michael Saylor. , CEO of MicroStrategy.

The share of green energy in miners’ consumption increased by 6% during the year, reaching 59.5% (compared to 66.8% for BMC participants).

BMC was founded in May 2021 at Sailor’s initiative after meeting with Elon Musk. The founders of the organization are MicroStrategy, Argo Blockchain, Hive Blockchain, Hut8, Riot Blockchain, Marathon Digital Holdings, Core Scientific and Mike Novogratz’s crypto merchant bank Galaxy Digital.

According to the site, at the time of writing BMC has 45 member companies operating on five continents.

Recall, according to a study by European scientists, Bitcoin’s carbon footprint increased by 17% after mining was banned in China.

The UN-sponsored Intergovernmental Panel on Climate Change (IPCC) has identified cryptocurrencies as one of the risk factors for the environment.

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