Bitcoin mining is now friendlier to the environment, new data shows By BTC Peers – Investing.com

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Middle East
  • Date: 22-Jul-2021
  • Source: Investing.com
  • Sector: Oil & Gas
  • Country: Middle East
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Bitcoin mining is now friendlier to the environment, new data shows By BTC Peers – Investing.com

Latest data from Cambridge University suggests that the environmental impact of and crypto mining has drastically improved over the past six months.

According to data compiled by CNBC from industry experts, the consensus is that crypto mining is now more environmentally friendly than it was when China dominated the mining market.

As reported by BTC PEERS, China’s latest clampdown on crypto mining and trading has forced several miners out of the region, with many migrating to areas such as Texas that utilize lower-cost renewable energy sources. As the clampdown on Bitcoin miners intensified, as much as half of the world’s crypto rigs went offline in a matter of days. And between May 13 and June 28, Bitcoin’s hash rate plummeted by over 60 percent.