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Bitcoin mining powered by methane can eliminate 5.32 % of world emissions

It all comes down to methane. Finally, an ESG analyst examines the data and lavishes praise on bitcoin mining. Daniel Batten confirms what Bitcoinist has been saying in his paper “Quantifying the Potential Impact of Bitcoin Mining on Global Methane Emissions.” Bitcoin mining is environmentally friendly. Furthermore, it is the only industry with the necessary characteristics and incentive structure to assist.

Daniel Batten, an ESG Analyst and ClimateTech VC, published the study under the Batcoinz brand. It’s the page’s first post, and it’s already causing quite a stir. “Bitcoin mining is currently the only way to reduce these methane emissions that is both technologically feasible and does not necessitate significant behavioural change,” the paper claims.

And, according to Batten and colleagues, this is “the only way” because “the unique combination of being location-agnostic, mobile, and interruptible makes Bitcoin mining the only economically feasible use case for the two major sources of leaking methane emissions examined in this paper.”

And Batten and company have a message for “those who previously believed that BTC had a negative environmental impact.” “We fully understand that this discovery may come as a surprise to some. As environmentalists, we were also surprised and had to work against our own biases as each new fact contradicted previous beliefs.”

And Batten and company have a message for “those who previously believed that BTC had a negative environmental impact.” “We fully understand that this discovery may come as a surprise to some. As environmentalists, we were also surprised and had to work against our own biases as each new fact contradicted previous beliefs.”

It’s also worth noting that Daniel Batten claims, “We received no funding for this research.” We have no ties to Bitcoin mining or other similar businesses. Please let us know if you find any flaws. We’ll keep working on it.”

What Do the ESG Findings Say About Methane?

Why is the ESG crowd constantly attacking bitcoin? Because “the energy consumption of bitcoin mining is obvious, but the environmental benefit is not immediately apparent.” Perhaps it is for this reason that it is so easy to conclude, based solely on energy consumption, that Bitcoin has a net negative environmental impact. Such reasoning is flawed because the net impact can only be determined by taking into account both environmental cost and benefit.”

It’s also worth noting that Daniel Batten claims, “We received no funding for this research.” We have no ties to Bitcoin mining or other similar businesses. Please let us know if you find any flaws. We’ll keep working on it.” And what is the advantage in this case? The study, after all, is only about methane, and its findings reflect the “minimum achievable target.” That means bitcoin can probably eliminate a greater proportion of global emissions than 5.32 percent. According to the study:

“We only calculated the net CO2-eq impact when Bitcoin mining was the only economically viable technology capable of combusting that methane.” Our findings will provide a minimum achievable target because we only quantified the environmental benefit of combusting flared gas and landfill gas: the two largest methane emitters that miners can collect.” Eradicating Misconceptions

According to the study, UNEP Executive Director Inger Andersen stated that “cutting methane is the strongest lever we have to slow climate change over the next 25 years and complements necessary efforts to reduce carbon dioxide.” Nonetheless, the general public has several misconceptions about “bitcoin mining powered by methane.”

While the study dispels those myths, it also reveals that using methane-fueled energy for something more practical “is neither economically nor logistically feasible.” Unless you want to construct a hospital or a housing village in the middle of an oilfield.” Power can only go so far. On the other hand, “mobile Bitcoin miners are the only location-agnostic user happy to locate in the oilfield, who can immediately begin using this power and removing harmful methane.”

Finally, Bitcoin Is The Environment’s Best Friend.

“Using Bitcoin mining to combust leaking methane sources can eliminate 5.32 percent of all global emissions by 2045,” according to the facts. This represents 23% of total global methane emissions, which is more than half of the UNEP’s target methane reduction of 45% by 2045.” Those are significant figures.

But that’s not all. “Bitcoin mining has a realistic chance of assisting humanity in avoiding nearly 0.15 percent of global warming by 2045.” “To our knowledge, no other technology can legitimately claim this,” the study says. Bitcoin does it all on its own; it does not require “carbon credits, government regulation, or government funding.” How will it achieve this? Because bitcoin mining “makes business sense for both the emitter and the miner,” it can be conducted through private business transactions.

What does Daniel Batten believe now that he has gone through the numbers and produced the study? “An ESG attack on BTC weakens the credibility of ESG, not BTC,” he tweeted.

Bitcoin mining powered by methane can eliminate 5.32 % of world emissions

Nonhlanhla P Dube

Nonhlanhla P Dube is a senior news reporter at Rateweb. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her directly by email at [email protected]

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