This is the third instalment of Monochrome Research’s E in ESG series and will discuss the state of the Bitcoin Mining network. Topics to be explored in this report are the current state of mining hardware, and industry-wide electricity and energy use, and emissions.

Ever since Application-Specific Integrated Circuits (ASICs) became the dominant computing force behind Bitcoin Mining in late 2013, improvements in hashing power per unit of energy have improved at a steady, yet dramatic pace.

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