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Bloomberg Analyst Lauds Bitcoin Energy Shift Amid Rising Hashrate

The Bitcoin mining industry has risen steadily in the past few years thanks to the widespread adoption and increasing interest in the Bitcoin blockchain. This growth has led to a vast increase in Bitcoin’s hash rate, causing concerns regarding the carbon footprint left behind by mining activities. A recent Bloomberg study has shown, however, that the carbon footprint left behind by the Bitcoin blockchain has stalled in recent years.  Bitcoin Unlikely To Burn The Oceans It’s no news that Bitcoin mining is now a big industry on its own, with some mining firms even contributing to the economy and grid of their locations. Major BTC mining companies have also turned years of profits, which have attracted many investors, including large investment firms.  Related Reading: Crypto Analyst Predicts More Trouble Ahead For Bitcoin Price, Here’s Why The issue of climate change and rising temperature have been the focus of many activists for years, with many accusing the energy-intensive activities of BTC mining of contributing negatively. As a result, regulatory agencies have been more insistent that mining corporations investigate safer and cleaner alternatives to fossil fuels for their energy needs.  To this end, Jamie Coutts, an analyst for Bloomberg, revealed that the percentage of Bitcoin transactions that use sustainable energy has increased steadily since 2021 and is now over 50%.  A new report has dropped on the Bloomberg @TheTerminal this morning – a further examination of this symbiosis between #Bitcoin mining and the global #EnergyTransition

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