Mining

Here Are Top 10 Countries With a Green Energy Mix for BTC Mining

Recently, X user known as Seth, a pro-Bitcoin portfolio manager, called attention to the growing eco-friendly mining landscape of Bitcoin, with more miners shifting towards renewable energy sources for Bitcoin.

Seth cited a report by Visual Capitalist that studies the countries with the most environmentally sustainable ecosystems for Bitcoin mining, including China and the United States.

This is how green #Bitcoin mining is ATM per country.
#1 USA
#2 China

Most Bitcoin mining are now powered by Renewable energy!

Image from Visual Capitalist.$BTC #bitcoinmining pic.twitter.com/hmvawNoHao

— Seth (@seth_fin) January 22, 2024

Visual Capitalist noted that Bitcoin miners’ decisions on where to establish their presence are influenced by factors such as the regulatory environment, electricity costs, and the average outdoor temperature.

In the context of mean annual temperature, the top 10 Bitcoin mining countries include the U.S., China, Kazakhstan, Canada, Russia, Germany, Malaysia, Ireland, Singapore, and Thailand.

Furthermore, the report highlighted that these top 10 countries in Bitcoin mining collectively contribute to 93.8% of the entire network’s hash rate. The U.S., China, and Kazakhstan have the most significant mining shares.

According to the report, Bitcoin miners consume around 348 terawatt-hours of electricity annually. Notably, the U.S., China, and Kazakhstan reported renewable energy shares of 22.5%, 30.2%, and 11.3%, respectively. Kazakhstan’s relatively low renewable share was attributed to its heavy reliance on coal, which accounts for 60% of its energy mix.

In contrast, China also relies on coal for a substantial portion of its electricity. Still, its overall renewable share is higher due to its rapid wind and solar power expansion.

Meanwhile, the report indicated that countries like Iceland, Paraguay, and Norway lead the way in renewable energy. However, collectively, they hosted just over one percent of the global Bitcoin mining network.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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