BCGAME - Free 5BTC Daily Bonus!The Bitcoin Mining Board is back. The controversial initiative led by Michael Saylor presented “the results of its first quarterly survey focused on two important metrics: electricity consumption and sustainable energy mix. “The broadcast was made via YouTube and open to the public. They choose to limit their reproduction on other sites, however. Therefore, incorporation is not possible.
According to the survey, Bitcoin mining energy mix has increased to 56% sustainable energy. That number comes from responses from “over 32 percent of the current global Bitcoin network. “Can we trust them? Potentially. Will the anti-Bitcoin media and conflicting economic actors believe them? That's another story altogether.
The still suspicious organization was created to fight the FUD environmental spread by Elon Musk and most of the legacy media. Its raison d'être has already appeared on these pages:
The Bitcoin Mining Council (BMC) has stated that its purpose is not to be a regulatory body of any kind. They are not here to tell anyone what to do. It must be an open forum for all miners. There is no fee required to enter. Members only need to agree to be transparent about their energy mix and hash rate sizes for research and education purposes.
However, the Bitcoin community remains skeptical. The smell of centralization is not tolerated, and this type of organization tends in that direction. Is this an open group or a private country club? On the other hand, other members of the community think that “Bitcoin doesn't care” and that everyone is free to do whatever they want.
To combat all these narratives, the Bitcoin Mining Council began holding its meetings openly … but always keeping some of that fascination behind closed doors.
On Thursday, July 1 at 4pm EDT the Bitcoin Mining Council will distribute its Q2 2021 Briefing, clarifying current # Bitcoin Electricity Usage, to be followed by a briefing for the general public at 5pm.
- Michael Saylor (@michael_saylor) June 28, 2021
In this article, we will discuss:
As mines leave China, Bitcoin Mining Council attacks
One of the main arguments against the Bitcoin community's claims that its mining is one of the cleanest industries in the world was China. An estimated 60% of the miners were located in the region, and while Nic Carter went to great lengths to prove that they primarily used green energy, the anti-Bitcoin media did not believe it. Because they didn't trust the data from China.
Well, the Chinese government has banned Bitcoin mining. The migration of the great miners is well underway.
Tons and tons of mining equipment are traveling to their new homes. There are reports of a large operation in Kazakhstan, a nation neighboring China. There are also rumors that equipment and personnel are already establishing themselves in Texas. The US state is making an effort to become a Bitcoin mining capital and apparently the efforts have already borne fruit.
On this fact, the Bitcoin Mining Council press release says:
Darin Feinstein, founder of Blockcap and Core Scientific, noted that the survey comes at a crucial time as the Bitcoin industry sees its mining operations even more decentralized as a result of the miners' departure from China. "Although China has shut down more than 60 percent of the global Bitcoin network, the Bitcoin network has experienced zero downtime, no bailouts, no bankruptcies and has simply adapted by redeploying its infrastructure in regions with greater freedom."
The BMC Survey Results for Q2 2021
Based on the Bitcoin Mining Council survey of the network, mining electricity mix increased to 56% sustainable in Q2 2021, making # Bitcoin one of the cleanest industries in the world.https://t.co/wWWgjebdtN
- Michael Saylor (@michael_saylor) July 1, 2021
The good news is that there is data to show that “Bitcoin's mining electricity mix has increased to 56% sustainability in the second quarter of 2021”. Are these data valid? That's another question altogether. The Bitcoin Mining Council details the results:
The results of this survey show that BMC members and survey participants are currently using electricity with a sustainable energy mix of 67%. Based on this data, the global mining industry's sustainable electricity mix is estimated to have grown to approximately 56 percent during the second quarter of 2021
So yes, the numbers are estimates and the data comes from a voluntary survey. We will have to wait and see how history and numbers evolve when China's miners find their new homes.
