On March 1, a Joules report titled “Revisiting Bitcoin’s Carbon Footprint” showed that since last August, the amount of renewable energy used for Bitcoin mining has dropped from 42% to 25%.
According to the report, a large amount of hydropower cannot be used for bitcoin mining due to the ban on bitcoin mining in China, and the increase in the use of natural gas in the United States and the increase in coal use in Kazakhstan have led to a decline in renewable energy for bitcoin mining.