Submitted by Hardscrabble Farmer
Bitcoin Mining Can Reduce Up To 8% Of Global Emissions: Report
Authored by Ezra Reguerra via CoinTelegraph.com,
A paper published by the Institute of Risk Management (IRM) concluded that Bitcoin has the potential to be a catalyst for a global energy transition.
IRM Energy and Renewables Group members Dylan Campbell and Alexander Larsen published a report titled “Bitcoin and the Energy Transition: From Risk to Opportunity.”
The paper argued that while BTC was perceived as a risk because of its energy consumption, it can also catalyze energy transition and lead to new solutions for energy challenges worldwide.
Within the report, the authors also highlighted the important function of energy and the increasing need for reliable, clean and more affordable energy sources.
Despite the criticisms of Bitcoin’s energy intensity, the study provided a more balanced view of Bitcoin by showing the potential benefits BTC can bring to the energy industry.
Amount of vented methane that can be used in Bitcoin mining. Source: IRM
According to the report, Bitcoin mining can reduce global emissions by up to 8% by 2030. This can be done by converting the world’s wasted methane emissions into less harmful emissions. The report cited a theoretical case saying that using captured methane to power Bitcoin mining operations can reduce the amount of methane vented into the atmosphere.
The paper also presented other opportunities for Bitcoin to contribute to the energy sector.
“We have shown that while Bitcoin is a consumer of electricity, this does not translate to it being a high emitter of carbon dioxide and other atmospheric pollutants. Bitcoin can be the catalyst to a cleaner, more energy-abundant future for all,” the authors wrote.
According to the report, Bitcoin can contribute to energy efficiency through electricity grid management by using Bitcoin miners and transferring heat from miners to greenhouses.
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These bitcoin “clingers” just cant give it up !
Its pathetic !
Love this old meme. Most things whether scientific,theological,economic,or political that can’t be explained on a high school level typically contain large quantities of bullshyte.
Methane. We’ve gone full Beyond Thunderdome.
Actually a good idea. Give some people some thing to do on a weekend in Chicago that doesn’t include looting.
Looting is easier and a LOT more fun.
Well i am 72,and i still get the urge to occasionally throw a brick. Best for everyone that i live out in the country.
Actually, the methane reference reminded me of “Alien Nation,” where the aliens are making their drug in a lab that James Caan can’t get into because the lab is filled with methane, which they can breathe.
I think “Alien Nation” fits ours right about now, if just the title alone.
Bit Coin = Finite supply of nothing
Block Chain + binary code = please hack me
“No, it’s unhackable because….who kicked out the extension cord? Mom, I’m trying to do a podcast, can’t you vacuum later?”
My time is better spent hunting that jar of silver dollars that grandpa buried in the 1930s.
Human sized hamster wheel generator sets solves the problem for the ardent supporters of the crypto scam.
The Tulip bubble will NEVER end!!!
Hmmm… a never ending bubble. Gonna have to think about that.
That GIF is freaking the shit outta Auntie.
Amen to that … must be one of those AI-generated images or some such nonsense …