Bitcoin Mining is now more environment friendly!

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Bitcoin Mining in its traditional way has always been an environmental issue even if it seems to be a promising investment.

Frankly speaking investors and bitcoin enthusiasts supporting it always have this problem lingering at the back of their mind. Well things are changing for good.

A study published by Cambridge university reveals that the geography of Bitcoin mining is changing for good over the last six to seven months.

Bitcoin mining was more centered in China till the earlier months of 2021 but as the year progressed and with China performing massive crackdown on the mining of the cryptocurrency the miners are left with no option but to migrate to a new location outside China making the mining of Bitcoin more decentralized.

Chinese crackdown on Bitcoin mining have done the crypto world more good than bad as no country should possess this much power over a decentralized asset. Miners are moving outside China looking for a better mining friendlier place and where mining is more dependent on other lower cost renewable energy sources.

Bitcoin Greener version

According to the new study published by Cambridge almost 36% of all BTC mining is now performed in United States followed by Kazakhstan at 18 percent and then Russia at 12 percent. China’s 60 percent share in bitcoin mining have now reduced to 35% and its still falling.

Bitcoin mining is becoming more greener as in contrast to the traditional mining in China which used to be more dependent on the energy generated by burning of the fossil fuels but the new locations where miners are now located most of their energy is generated using the renewable alternative energy sources such as solar, wind, hydro power, nuclear which is more environment friendly.

Conclusion

With Bitcoin becoming a reliable store of value with slowly eliminating most of its drawbacks its leading its way to become one of the most trusted asset class. Bitcoin at the time of writing this article trends at $61k.

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