Business Renewable energies dominate cryptocurrency mining with Latin America as...

Renewable energies dominate cryptocurrency mining with Latin America as world leader – BeInCrypto

Latin America and the Caribbean is the region where the largest number of miners in the world use renewable energy to perform their tasks.

A report from Cambridge University shows that the region of Latin America and the Caribbean (LAC) the 67% of miners use renewable energy sources such as hydropower to carry out its mining activities, becoming the greenest region to carry out this task.

Miners worldwide prefer to use renewable energy sources

Worldwide renewable energies seem to be the most used by miners with a percentage of use of 60% to 66%. However, in regions such as Asia Pacific (APAC), surveys show that non-renewable energies such as coal also dominate.

Energy sources used by region. Image: Cambridge University

According to the previous graph, in on the Asian continent, the cryptocurrency mining led by China, uses the same percentage of renewable and non-renewable energy, something that many government officials have tried to change, proposing the use of hydroelectric energy in the mining activity, which has been strongly promoted in the country to attract investment from technology companies blockchain.

He Asian country remains at the Vanguard on the subject of cryptocurrencies Y CBDCs en general. Even the China Central Television (CCTV) network – the most important in the country -, public last Friday a video where they explain how cryptocurrencies increased by 70% so far this year and they talked about his good performance.

76% of miners use renewable energy in their energy mix

In the research, it can be seen that 39% of all energy used worldwide by miners is renewable. This means good news for the planet, but also for the industry since in most cases electrical energy tends to be cheaper than other sources.

The report also reflects that the 62% of workers in the mining sector use hydroelectric energy as a way to sustain its operations. The second source is non-renewable (coal, 38%). Natural gas, wind, oil and solar energy complete the podium with more than 15% each.

Hashing facilities power sources

Miners prefer renewable energies that prevent global pollution

By preferring the use of this type of energy, the miners collaborate with the salvation of the environment since these they do not pollute or generate waste and they are practically unlimited as they come from inexhaustible sources such as water (Hydraulics), the sun or the wind, while non-renewable sources pollute, are limited and imply a higher extraction cost.

Although the total percentage of miners who work with hydraulic energy is quite high, the other part of this sector must still be made aware of using renewable energies that do not pollute the planet when carrying out these activities.

Although others may argue that it would be better to stop mining completely and move to the green world of Proof of Stake coins.


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