dsbatten on Nostr: Just completed these calculations: Bitcoin network now uses just under 54.0% ...

Just completed these calculations:

Bitcoin network now uses just under 54.0% sustainable energy.

Breakdown:

29.5% of the bitcoin network is entirely off grid. They use 84.4% sustainable energy. This is the fastest growing sector of the network.

Of the remaining 70.5% (ongrid) - one third of that is in Texas (ERCOT)

ERCOT uses 47.4% sustainable electricity

The remaining part of the network (ongrid but not ERCOT) is what Cambridge measures. They use 38.0% sustainable energy. This % doesn’t change much - however the portion of miners in this category is shrinking, which drives up sustainable energy use overall

Side note:

If Cambridge were to redo their model today without updating it for exclusions they would conclude “Bitcoin uses 38% sustainable energy”.
The major newspapers would headline “Bitcoin struggles to go sustainable” and “bitcoin mining claim to be sustainable debunked in latest report”