Part 10/12:
Bitcoin mining has faced scrutiny for its energy consumption, with estimates suggesting it consumes between 0.1% to 1% of global energy. However, miners inherently seek the cheapest energy sources to optimize profits, often resorting to renewable or underutilized sources such as flared gas.
The inevitable rise in Bitcoin's value and the subsequent increase in mining activity will drive miners to innovate towards greener solutions. As companies like Microsoft and Google invest in renewable energy infrastructure, Bitcoin miners are following suit, with many acquiring their own power sources to mitigate costs.