Bitcoin is expected to become a zero-emission network: Report

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

On the basis of information by Cointelegraph, the report is based on data from Bitcoin Mining Council to get an idea on the impact of carbon-negative energy sources on BTC’s overall carbon footprint. After the investigation and extrapolation of the results, it expects that the entire Bitcoin network will become a zero emission network. Reportedly, the carbon-negative network technique means to combust methane gas to mine BTC, instead of its release into the atmosphere. Through the study, it’s been found that this process reduces the network’s emissions by 63%.

According to Cointelegraph, the study makes use of 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 waste gases from animal waste such as in Slovakia, to show that Bitcoin mining could have an impact on environment to prevent the emission of methane gases.  

Moreover, Cointelegraph noted that while central bankers and media continues to argue regarding Bitcoin’s energy intensive mining process, it is anticipated that mining can help with cutting down emissions. According to a United Nations’ report, reducing methane emissions can help with slowing down climate change over the next 25 years. By removing gas flaring or animal waste biogas emissions, Bitcoin miners globally are working to achieve the zero emission goal.

Northern Irish farmer Owen, who began trialing Bitcoin mining, partnered with Scilling Digital Mining, an Irish company which looks for renewable energy to use for Bitcoin mining. “Daniel [Batten] has done work showcasing Bitcoin mining’s methane capture capability. The plaudits for these energy consumers are only just beginning, and Ireland’s farmers could be the next adopters of this technology,” Mark Morton, managing director, Scilling, said.

(With insights from Cointelegraph)

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