The use of hydrocarbon fuel in Bitcoin Mining has witnessed a sharp decrease over the past 13 years, with coal energy in a significant decrease.
Bitcoin mining (BTC) has decreased from 63 % in 2011 to 20 % in 2024, i.e. an average annual decrease of about 8 %, according to a new report. Absolute On March 31 through the Mica Crypto Alliance in cooperation with the Rake Nodiens Data Data platform.
In parallel, the renewable energy share used in bitcoin mining increased steadily, growing at a rate of 5.8 % annually.
Bitcoin’s absolute energy consumption trends, renewable energy and coal. Source: Mica Crypto Alliance
The data reflects a steady shift in bitcoin mining into more clean and more sustainable energy solutions, as the study expects more carbon and reduce the environmental footprint of BTC in the coming years.
The use of global coal energy increased to new levels in 2024
This transition comes amid the high global coal consumption, adding a variation with the changing energy profile of Bitcoin.
According to the International Energy Agency (IEA), an international policy organization based in Paris, which uses global coal Rise To a new record in 2024, estimated at 8.8 billion tons.
Global coal consumption from 2000 to 2026. Source: IEA
According to IEA, global demand for coal energy is scheduled to remain close to record levels to 2027, where emerging economies such as India, Indonesia and Vietnam are expected to see a sharp increase in coal consumption in the coming years.
Five Power Power Scenaries in Bitcoin until 2030
The report puts five future carbon fingerprint scenarios in Bitcoin, which ranges from a declining price of $ 10,000 BTC to a scenario of one million dollars.
The study specifically included five BTC price scenarios, with $ 10,000 a low price scenario, the basic price script at $ 110,000, a script at a price of $ 250,000, a script of the high price at $ 500,000 and a “climbing” scenario at a price of one million dollars per two years.
The peak of the annual carbon fingerprint estimates of the various bitcoin price scenarios and the different energy transmission scenarios in IEA. Source: Mica Crypto Alliance
In the average price scenario, it is estimated that renewable energy constitutes between 59.3 % and 74.3 % of the total use of electricity in Bitcoin, depending on the policy scenario, except for the use of nuclear energy.
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The report also mentions an expected peak in Bitcoin mining energy consumption around 2030, an echoing a similar prediction in a study conducted by the NYDIG digital assets platform Absolute In September 2021.
According to NYDIG estimates, even in a high -price scenario, Bitcoin’s electricity consumption will reach its peak at 11 times the level of 2020, but it only represents 0.4 % of global primary energy consumption and 2 % of global electricity generation.
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