Cambridge Report Finds Bitcoin Mining Uses 52.4% Sustainable Energy, Exceeding Elon Musk’s Tesla BTC Payment Target

The Cambridge Centre for Alternative Finance has released its fourth research report on Bitcoin mining, revealing that 52.4% of the Bitcoin network’s energy consumption now comes from zero-carbon or sustainable sources, a notable increase from 37.6% in 2022. This shift is partly driven by the replacement of coal with natural gas, which accounts for 38.2% of the energy mix. The report highlights innovative practices such as MARA’s Finland pilot, where waste energy is repurposed to reduce the carbon footprint of mining operations while benefiting local communities. Additionally, the study recognizes Bitcoin mining’s potential to stabilize power grids and reduce renewable energy curtailment, confirming claims made by the industry in recent years. The increase in sustainable energy use surpasses the threshold Elon Musk set for Tesla to resume accepting Bitcoin payments, a move Tesla indicated it would consider once mining reached approximately 50% clean energy usage. Tesla currently holds over 11,500 BTC. The report also cites academic papers from the Satoshi Action initiative, underlining the growing academic and industry consensus on Bitcoin mining’s environmental progress. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant