The perception around the world that Bitcoin pollutes energy resources seems to be breaking down more and more day by day.
Among the most frequently voiced criticisms of Bitcoin mining is that it is a busy industry with potentially negative environmental impacts. In this day and age of investment, poor sustainability may drive market participants away, but bitcoin miners are more cautious than you might think. In fact, many are increasing their use of sustainable energy.
This could be positive for exchange-traded funds like the VanEck Digital Assets Mining ETF (DAM). Following the MVIS Global Digital Assets Mining Index, DAM owns 25 shares, and some of these companies are making progress when it comes to renewable energy consumption.
According to research by the Bitcoin Mining Council (BMC), the sustainable electricity mix of the global bitcoin mining industry is currently 59.5%, or has increased by about 6% annually from the second quarter of 2021 to the second quarter of 2022, making it one of the most sustainable industries in the world. It is presumed to have brought
In addition to the appeal of bitcoin and DAM as assets that improve sustainability insights, the more efficient the Bitcoin network itself means, the lower the power consumption to run the network.
Other data points suggest that the Bitcoin mining industry may finally look to the second quarter of 2022 as a turning point in terms of supporting both efficiency and sustainability.
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