Happy Friday, Blockfolians

The Lede

Big news out of the Bitcoin Mining Council this week! Michael Saylor and the 23 members of the Council have put out research arguing that 56% of global mining in Q2 was done with sustainable sources.

Based on the Bitcoin Mining Council survey of the network, mining electricity mix increased to 56% sustainable in Q2 2021, making #Bitcoin one of the cleanest industries in the world.
Bitcoin Mining Council Q2 2021 BriefingMicroStrategy’s business analytics and mobility platform helps enterprises build and deploy analytics and mobility apps to transform their business.hope.com

They also introduced a new narrative: “the cleanest industry in the world.”

While not everyone loved the way they estimated the non-member mining mix, its hard to argue the takeaway around the 23 North American miner members, who had a 67.6% sustainable energy mix:

nic carter @nic__carter

many will attaq BMC, especially over extrapolation to 56% sustainable. but even if you disagree with out of sample assumptions, in-sample data still useful. huge share of NA mining represented. and ultimately we’re dealing with NA press, NA investors. NA mining is clean.

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Highly Relevant Reading

Grayscale adds Cardano to large cap fund
Robinhood is going public
US Jobs report shows bigger than expected gains
A big crypto exchange tax in India?

Community Commentary

DAOs baby

Jesse Walden @jessewldn

The internet built Wikipedia, with no economic incentive.

Don’t underestimate what the internet can build as DAOs

Did we miss something?

Nathaniel Whittemore @nlw

People losing their retirement money in crypto came up a weird amount in the hearing on Wednesday.

Is there like, an epidemic of retirees losing money in crypto right now that I just don’t know about?

“Are you coming to bridge, George?”

“No Nan! I just got liquidated again!”

A Really Big Number We Should Be Paying Attention To

$139m

That’s how much an NFT focused company just raised. Seems like private money still betting that NFTs are real.

Final Thought

Our sentiments exactly

Hilary Agro 🍄 @hilaryagro

Grilling is bad hurr durr