When Elon Musk said he wouldn't be investing into BTC via Tesla until it was "greener" a lot (and I mean alot) has changed.

Reduction in Co2

As of late May, on-chain data from Woonomic shared by Daniel Batten, a climate technology investor, and activist, noted that the amount of Carbon emission associated with Bitcoin mining has fallen by nearly 50% from 601g/kWh to 299g/kWh in three short years.

Amazing. Or is it? According to CCAF, the figures could be lies.

Exaggerated Figures

The Cambridge (CCAF) data on Bitcoin has these issues:

1. energy consumption (20.6% overstated)

2. emission intensity (69.4% overstated)

3. sustainable energy mix (39.9% understated)

4. emissions (106% overstated)

CCAF are aware of this but will all things to do with statistics, it will take a long time to fix.

So IS Bitcoin green? How does it compare to other industries.

Sustainability By Market

Percentage of sustainable energy:

- Bitcoin: 52.6%

- Banking: 39.2%

- Industrial: 32%

- Agriculture: 19%

- Gold: 12.8%

- Iron & Steel: 9.8%

- Zinc: 1%

So BTC might not be the greenest YET, but we are making progress.

Conclusion

Without going into too much analysis, as you can see:

  1. The stats about #BTC were wrong to start with

  2. Different stats show 50% reduction in "bad" energy usage

  3. It is cleaner than it was and now cleaner than competitive markers.

Stay strong, we are early. BTC will be the cleanest form of currency the world has ever seen.