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CoinShares report: Renewable energy accounts for 77.6% of total Bitcoin’s energy usage

by Steven Zheng

November 30, 2018, 4:34PM EDT  ·  3 min read

Quick Take

  • CoinShares released a 19-page report analyzing the geographic distribution, composition, efficiency, electricity consumption, and electricity sources of the Bitcoin mining network
  • The firm notes that bitcoin miners are likely mining at a loss, but given the right conditions, some mining operations can still be profitable
  • CoinShares concludes that, based on its estimates, renewable energy accounts for 77.6% of total bitcoin mining energy usage

by Steven Zheng

November 30, 2018, 4:34PM EDT  ·  3 min read

CoinShares, the cryptoasset investment and research platform, released a new 19-page report titled: “The Bitcoin Mining Network—Trends, Marginal Creation Cost, Electricity Consumption & Sources.” The report analyzes the geographic distribution, composition, efficiency, electricity consumption, and electricity sources of the Bitcoin mining network. Additionally, the white paper examines trends in hash rate, marginal creation cost, hardware costs, and hardware efficiency.