How do Renewable Energy Systems impact European Crypto Mining?

Despite only accounting for 2.5% of global Bitcoin mining, Europe is overproportionally sustainable:

The usage of renewable energy sources in the European crypto mining landscape has a positive impact in several ways. First, it reduces the environmental impact of mining, as renewable energy sources do not produce greenhouse gases or other pollutants. This can help to address concerns about the energy consumption and carbon footprint of the crypto mining industry.

Additionally, using renewable energy sources can help to lower the costs of mining operations, as the cost of renewable energy is generally lower than that of fossil fuels. This can make European crypto mining companies more competitive in the global market.

Finally, using renewable energy sources can also help to improve energy security, as it reduces dependence on imported fossil fuels and can help to support local economies.

Overall, the usage of renewable energy sources in the European crypto mining landscape provides a number of benefits and can help to make the industry more sustainable and competitive.