BTC Mining Sustainable Energy Usage Reaches 54.5%
Daniel Batten, co-founder of CH4 Capital, reported that bitcoin mining has reached all-time high levels of sustainable energy usage and emissions mitigation. Bitcoin mining is becoming more environmentally friendly, according to Daniel Batten.
Daniel stated that The industry is now using 54.5% sustainable energy, making it the only global industry primarily powered by this type of energy. Batten disputes the idea that Bitcoin is primarily fossil fuel-powered, stating that after the Chinese mining ban, miners have moved to greener on-grid sites or sustainable off-grid locations.
He criticized Cambridge’s model on bitcoin emissions as outdated and reveals that there are no independent models or studies using contemporary data that support the thesis Bitcoin is mainly powered by fossil fuels.
Further he stated that more Bitcoin miners are using methane emissions than previously accounting for, with 22 mining companies providing a direct offset of 7.3% of network emissions without relying on carbon instruments. While Bitcoin still produces more emissions than the network mitigates, Batten believes it can become the fastest industry to go greenhouse negative without offsets.
(With inputs from Shikha Singh)
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