Tesla and SpaceX CEO Elon Musk has said he will resume accepting BTC payments for vehicle purchases when the percentage of bitcoin renewable energy used exceeds 50%.
So the global bitcoin mining industry’s sustainable electricity mix is currently at 58.4%, up by 63% year-over-year, according to a recent survey by the Bitcoin Mining Council (BMC).
“We observed a 63% year-on-year increase in efficiency due to advances in semiconductor technology, the rapid expansion of North American mining, the China Exodus, and the worldwide adoption of sustainable energy and modern bitcoin mining techniques,” – such reasons were highlighted by Michael Saylor, the CEO of software developer MicroStrategy.
BMC estimates that production efficiency will increase 3-fold over the next four years. The council is also convinced that these improvements are attractive to institutions that consider the impact on the environment one of the biggest reasons not to invest in bitcoin.