One of Bitcoin's biggest problems has always been its greed for electricity. At the base of its blockchain there is the validation of the blocks using the Proof of Work technology, i.e. the resolution of complicated algorithms that require more and more power for their resolution, at the end of the process the rewards in BTC are obtained.
Furthermore, in recent years we have been witnessing an exponential increase in power, more and more miners participate in the grid and the demand for energy follows this trend. Bitcoin is hungry for energy and for this reason it has long been pointed out as a non-ecological, polluting technology since in many countries such as China, where miners were concentrated in large part until last year, energy production derives from polluting sources such as coal.
In reality, according to the latest analyzes conducted by the Bitcoin Mining Council, the electricity production that powers mining is significantly migrating towards renewable sources. To date, it is estimated that almost 60% of mining is supported by clean energy, to which is added the avant-garde of hardware capable of producing more and more low-energy calculations. The goal of supporting mining entirely with clean energy is therefore not far off and among some have, with increasingly efficient hardware, in addition to having more performing computing power, the energy required could decrease compared to today's.
In this regard, Elon Musk banned BTC as a payment method for Tesla due to its polluting nature and stated that he would re-introduce the cryptocurrency only when at least 50% of the mining was supported by clean energy. Well, so there you have it!
Very large mining companies are starting construction projects of farms in areas particularly rich in hydroelectric energy, which is particularly abundant and economically advantageous, in addition to its green nature. So the data will certainly improve in the coming months.
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