Shining light on the sustainable side of Bitcoin mining
Bitcoin mining has often come under fire for its high energy consumption and negative impact on the environment. But a recent report by independent researcher Daniel Batten reveals that Bitcoin mining is more sustainable than previously thought, with over 52.6% of Bitcoin mining powered by sustainable energy.
Source: Bloomberg Originals/Youtube
Batten’s research shows that Cambridge Bitcoin’s Power Consumption Index (CBECI) had excluded some important factors in their calculations, leading to an underestimated percentage of Bitcoin’s sustainable energy use. After taking these factors into account, including off-grid mining, flare gas mining, and updated geographic hash rates, the sustainable energy mix calculation reached 52.6%.
This is a significant finding for Bitcoin advocates and ESG investors, who have been hesitant to embrace the cryptocurrency due to environmental concerns. The new data-driven approach to analyzing Bitcoin’s power consumption could remove a roadblock in the minds of ESG investors and policy makers.
Batten argues that the revised findings could position Bitcoin as a leader in sustainable energy adoption across all industries. However, the research also highlights the need for continued efforts to improve the sustainability of Bitcoin mining and the wider cryptocurrency industry.
Bitcoin’s success in adopting sustainable energy practices could also serve as a model for other industries to follow. As companies increasingly focus on sustainability, it is important to prioritize and invest in sustainable energy sources to reduce the negative impact on the environment.
Individuals can also play a role in promoting sustainable practices in the cryptocurrency industry. One way to do this is by choosing to buy and use Bitcoin from miners who prioritize sustainable energy sources. As more consumers demand environmentally friendly alternatives, this will motivate miners to adopt sustainable practices and reduce their carbon footprint.
In conclusion, the latest research shows that Bitcoin mining is more sustainable than previously thought, with over 52.6% of mining powered by sustainable energy. This is an important step towards promoting sustainability in the cryptocurrency industry and positioning Bitcoin as a leader in sustainable energy adoption. However, there is still work to be done to improve the sustainability of Bitcoin mining and more broadly the cryptocurrency industry.
As individuals, we can support sustainable practices by choosing to buy and use Bitcoin from miners who prioritize sustainable energy sources. Together we can promote a more sustainable future for all industries.
Wake Up And Smell The Climate Change Tee from Tiny Rescue: Climate Collection
Related Content:
Simple ways to help the planet:
- Eat less meat: download Food monster, the largest plant-based recipe app on the App Store, to help reduce your environmental footprint, save animals and stay healthy. You can also buy a hard or soft copy of ours favorite vegan cookbooks.
- Reduce your Fast Fashion footprint: Take the initiative by standing up against fast fashion pollution and supporting sustainable and circular brands like Small rescue which raises awareness of important issues through recycled zero-waste clothing designed to be returned and remade again and again.
- Support independent media: Being publicly funded gives us a better chance to continue to bring you high quality content. Please rate supports us by donating!
- Sign a petition: Your vote matters! Help turn petitions into victories by signing the latest list above must sign petitions to help people, animals and the planet.
- Stay informed: Stay up to date with the latest news and important stories involving animals, the environment, sustainable living, food, health and human interest topics by subscribing to our newsletter!
- Do what you can: Reduce waste, plant trees, eat locally, travel responsibly, reuse things, say no to single-use plastics, recycle, vote smart, switch to cold water laundry, avoid fossil fuels, save water, shop wisely, donate if you can, grow your food, report volunteer, save energy, compost, and don’t forget the microplastics and microbeads lurking in common household and personal care products!
