Bitcoin aims to become a zero-emissions network: report

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A Bitcoin (BTC) mining report by philanthropist Daniel Batten claims that Bitcoin could become a zero-emissions network, Cointelegraph reported.

Based on information from Cointelegraph, the report draws on data from the Bitcoin Mining Council to provide a picture of the impact of carbon negative energy sources on BTC’s overall carbon footprint. After examining and extrapolating the results, she expects the entire Bitcoin network to become a zero-emissions network. Reportedly, the carbon-negative network technique means burning methane gas to mine BTC rather than releasing it into the atmosphere. The study found that this process reduced emissions from the network by 63%.

According to Cointelegraph, the study uses data from various flare gas BTC miners, including Crusoe Energy in Colorado, Jai Energy in Wyoming, and Arthur Mining in Brazil. The study also focuses on miners using exhaust gases from animal waste like in Slovakia to show that Bitcoin mining could have an impact on the environment to prevent the emission of methane gases.

Additionally, Cointelegraph noted that while central bankers and the media continue to bicker over Bitcoin’s energy-intensive mining process, mining is expected to help reduce emissions. According to a United Nations report, reducing methane emissions may help slow climate change over the next 25 years. By eliminating gas flaring, or biogas emissions from animal waste, bitcoin miners worldwide are working towards the zero emissions goal.

Northern Ireland farmer Owen, who started testing bitcoin mining, partnered with Scilling Digital Mining, an Irish company looking for renewable energy for bitcoin mining. “Daniel [Batten] has done work to demonstrate the methane capture capability of bitcoin mining. The praise for these energy consumers is only just beginning and Ireland’s farmers could be the next adopters of this technology,” said Mark Morton, Managing Director of Scilling.

(With insights from Cointelegraph)

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