Green Economy - Bitcoin mining grows greener

Green Economy - Bitcoin mining grows greener

In the coming years, the tone of the cryptocurrency market will be set by environmental projects, which will be increasingly used for mining around the world. New technologies and developments will be implemented in different parts of the world. And maybe even in outer space - such ideas and proposals already exist and are being discussed within the professional community. Interesting discussions took place at the Bitcoin Miami conference in the USA at the end of May.

Bitcoin mining was one of the key topics in the latest report by Messari, a leader in cryptocurrency market research and analysis. The authors believe that the green agenda will increasingly dominate in this field, and it will be the driving force of the industry in the years to come.

On the one hand, environmental friendliness will grow into an actual trend, and crypto enthusiasts will adhere to ESG (Environmental, Social, Governance) Investing approach - environmental, social, governance aspects of investing. On the other hand, this trend will be supported by economic considerations, and the high cost of energy. As for this point, Messari analytics highlights a very indicative example for Bitcoin mining cost: in 2021, the mining of 1 bitcoin cost American miners in Texas about $5-10 thousand, and the coin itself was trading at around $50-60 thousand; its value went down in 2022, and the best price was estimated at $20 thousand with $15-20 thousand of mining cost.

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