• Latest
  • Trending
  • All
Bitcoin [BTC] emission intensity hits new all-time low- Here’s why

Bitcoin [BTC] emission intensity hits new all-time low- Here’s why

April 3, 2023
Bybit Secured License as Digital Asset Provider in Kazakhstan 

Bybit Secured License as Digital Asset Provider in Kazakhstan 

June 8, 2023
New breed of bitcoin NFTs sell for millions

10 Best New Meme Coins to Buy in 2023

June 8, 2023
Announcing the Client Incentive Program

Update on the partnership between EF and UNICEF

June 8, 2023
Why Litecoin might falter at this bearish zone

Why Litecoin might falter at this bearish zone

June 8, 2023
ZUM TOKEN (ZUM) has a Bearish Sentiment Score, is Falling, and Underperforming the Crypto Market Thursday: What’s Next?

ZUM TOKEN (ZUM) has a Bearish Sentiment Score, is Falling, and Underperforming the Crypto Market Thursday: What’s Next?

June 8, 2023
Ethereum Rival Takes Hit As Institutional Investors Sell-Off Crypto Holdings: CoinShares

Ethereum Rival Takes Hit As Institutional Investors Sell-Off Crypto Holdings: CoinShares

June 8, 2023
Bitcoin holds as market reacts to SEC drama

Bitcoin holds as market reacts to SEC drama

June 8, 2023
Binance Attorneys Say SEC Boss Offered to Be Advisor to Crypto Company in 2019

Binance Attorneys Say SEC Boss Offered to Be Advisor to Crypto Company in 2019

June 8, 2023
The Bitcoin Reward Will Be Cut In Half Soon, And Only The Best Miners Will Be Able To Keep Up

The Bitcoin Reward Will Be Cut In Half Soon, And Only The Best Miners Will Be Able To Keep Up

June 8, 2023
Best Altcoins to Buy in Meme Coin Season

Best Altcoins to Buy in Meme Coin Season

June 8, 2023
Ethereum likely to descend to this key level soon

Ethereum likely to descend to this key level soon

June 8, 2023
TMS Network Sees Continued Investment Interest, Litecoin (LTC) Surges & Cardano (ADA) Deploys New Smart Contract Toolset

TMS Network Sees Continued Investment Interest, Litecoin (LTC) Surges & Cardano (ADA) Deploys New Smart Contract Toolset

June 8, 2023
Thursday, June 8, 2023
DLT EMPIRE
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market
No Result
View All Result
DLT EMPIRE
No Result
View All Result
Home Bitcoin

Bitcoin [BTC] emission intensity hits new all-time low- Here’s why

by Cuevas Antonio
April 3, 2023
in Bitcoin
0
Bitcoin [BTC] emission intensity hits new all-time low- Here’s why
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


  • Bitcoin mining sustainability reached a new ATH, thereby reducing gas emissions.
  • Miners’ revenue remains at extremely low levels.

One problem Bitcoin [BTC] miners have faced is the complaints about energy draining and untenable greenhouse gas emissions on the environment. But as of press time, the emission intensity reached a new All-Time Low (ATL), according to a Woobull chart shared by Daniel Batten (a climate activist).

3 Chart updates

1. New ATL (All Time Low)

Bitcoin is on track to 1/2 its emissions per KWh within 3.5 years

No other industry is reducing emission intensity as fast

2 Reasons:
1. Most miners now use sustainable energy sources
2. More efficient mining rigs pic.twitter.com/peRCykPck5

— Daniel Batten (@DSBatten) April 3, 2023


How much are 1,10,100 BTCs worth today?


Thanks to the rigs and energy

In his tweet, the climate tech activist and investor pointed out the reasons why the situation has changed. First, he mentioned that most miners had improved in using sustainable energy resources. And secondly, there were more structured and efficient mining rigs.

Due to these factors, mining sustainability reached an All-Time High (ATH) of 54%. Mining in crypto considers emissions and precise energy used in creating power for the activity. This, sometimes, leads to carbon emissions which only have a lesser impact than coal-powered energy.

Bitcoin mining sustainabilty

Source: Woobull

But now that the emission intensity has reduced, it implies that Bitcoin is effectively heading toward carbon neutrality. And, according to Batten, it could reduce its impact on the environment by half in three years.

Additionally, the Bitcoin investor also noted that the sustainability ATH had slightly decreased. And this has been an aftereffect of a rising hashrate without significant mining activity. Datten noted,

“Total emissions are up from a fortnight ago. These are indirect emissions caused by electricity use (like the indirect emissions of EVs). Bitcoin like EVs has no direct emissions.”

Notably, the Bitcoin hashrate refers to the total computational power used to mine and process transactions on the Proof-of-Work (PoW) consensus network. It also describes the estimated number of hashes per second by miners on the Bitcoin network.

Bitcoin hashrate

Source: Glassnode

Of late, the hashrate has been rising to new ATHs week-in, and week-out as the BTC price continues an overall green performance. At the time of writing, the situation was not changed based on Glassnode data.


Is your portfolio green? Check the Bitcoin Profit Calculator


No savior yet for the turnover

But has the drop in mining activity affected miners’ revenue or fees? At press time, total fees which do not include newly issued coins generated remained at a low point similar to the 2022 trend.

When it comes to miners’ revenue, the decline was evident. The metric measures income generated plus newly minted coins. According to Glassnode, the revenue was down 870.90 BTC. 

Bitcoin miners revenue

Source: Glassnode

For the time being, miners continue to wrestle with ups and down in the industry. The BTC price swings in recent times have also played a part in this adjustment.

However, the widespread sentiment for significant recovery is the 2024 Bitcoin halving when miners would get 3.125 BTC in rewards.





Source link

Tags: AllTimeBitcoinBTCemissionHeresHitsintensity
Share196Tweet123Share49
Cuevas Antonio

Cuevas Antonio

  • Trending
  • Comments
  • Latest
Rise of AI-Powered Cheating: Challenges and Solutions for Educators

Rise of AI-Powered Cheating: Challenges and Solutions for Educators

March 20, 2023
Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

April 10, 2023
What is Cloud Mining and How Does it Work?

What is Cloud Mining and How Does it Work?

April 10, 2023
Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

0
24 Crypto Terms You Should Know

24 Crypto Terms You Should Know

0
Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

0
Bybit Secured License as Digital Asset Provider in Kazakhstan 

Bybit Secured License as Digital Asset Provider in Kazakhstan 

June 8, 2023
New breed of bitcoin NFTs sell for millions

10 Best New Meme Coins to Buy in 2023

June 8, 2023
Announcing the Client Incentive Program

Update on the partnership between EF and UNICEF

June 8, 2023

Recent News

Bybit Secured License as Digital Asset Provider in Kazakhstan 

Bybit Secured License as Digital Asset Provider in Kazakhstan 

June 8, 2023
New breed of bitcoin NFTs sell for millions

10 Best New Meme Coins to Buy in 2023

June 8, 2023
Announcing the Client Incentive Program

Update on the partnership between EF and UNICEF

June 8, 2023

Categories

  • Altcoin
  • Altcoin News
  • Altcoins
  • Artificial Intelligence
  • Bitcoin
  • Blockchain
  • Business
  • Crypto Mining
  • Cryptocurrencies
  • Culture
  • Dogecoin
  • Economy
  • Education
  • Ethereum
  • Featured
  • Governance
  • Litecoin
  • Market
  • News
  • Uncategorized

Converter

Cryptocurrency Prices by Coinlib

© 2023 Dlt Empire | All Rights Reserved

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market

© 2023 Dlt Empire | All Rights Reserved