Market Analysis Report (11 Jun 2019)

A new study by cryptocurrency investment and research firm CoinShares estimates renewable energy is powering almost three quarters – 74.1% – of Bitcoin mining operations. This percentage is slightly down from the number in their November 2018 report, where they estimated renewables power 77.6% of the Bitcoin mining network.

The latest CoinShares Bitcoin Mining Report also found that Bitcoin mining operations tend to be geographically concentrated in areas where renewable energy sources are abundant. What’s more, CoinShares calculated that the market-average, all-in marginal cost of mining bitcoin had decreased since November; suggesting that, “at current prices, the average miner is highly profitable.”

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