New All-Time Highs in Bitcoin Network Achievements
A recent analysis by Daniel Batten, a renowned Bitcoin ESG researcher and managing partner at CH4 Capital, reveals three remarkable new all-time highs achieved by the BTC network. These milestones, however, do not pertain to its price, which has yet to surpass its previous peak. Batten’s insights are shared in the latest issue of “The Bitcoin ESG Forecast,” where he highlights the growing traction of BTC among institutional investors, particularly within the $23 trillion ESG funds sector.
New All-Time High #1: Methane Mitigation
Batten emphasizes the significant progress made by the Bitcoin network in methane mitigation. Over the course of four years, without subsidies or purchasing offsets, Bitcoin mining now offsets one in every 13 tonnes of emissions through methane mitigation. This achievement holds particular significance in light of the recent focus on methane at COP28 and the efforts of companies like Vespene to utilize landfill gas for BTC mining.
New All-Time High #2: Sustainable-Energy Based Bitcoin Mining
An impressive 61.5% of known miners now use sustainable energy sources. Batten states that there is no other industry where such a high percentage of operators rely almost exclusively on sustainable energy. This statistic includes nearly 18% of miners using stranded methane, demonstrating the industry’s commitment to combating climate change.
New All-Time High #3: Off-Grid Mining
The expansion of off-grid BTC mining to 29.8% showcases the sector’s innovative approach to energy use. Batten explains that miners are driven off-grid by cheap power, often sourced from sustainable energy. The decreasing cost of sustainable energy has made it a lucrative option for miners who prioritize profit while aligning with ecological imperatives.
Science Community Backs Bitcoin
Batten also addresses the shift in narrative surrounding Bitcoin mining’s environmental impact. He cites recent peer-reviewed scientific literature, including studies from Cornell University and publications in MDPI and Sciencedirect, which endorse the net-positive environmental potential of Bitcoin mining. These studies support Bitcoin mining’s role in renewable energy development, grid decarbonization, and methane mitigation.
“These publications reveal a transformative potential in the BTC mining sector, especially regarding demand response, grid flexibility, and methane mitigation,” Batten highlights. He challenges the mainstream media’s often critical perspective of Bitcoin’s environmental impact.
Batten’s comprehensive analysis showcases BTC’s pivotal role in environmental sustainability and its growing appeal among global investors, particularly within ESG-focused funds. As Bitcoin continues to achieve new records in sustainability and innovation, it solidifies its position as a leader in aligning economic incentives with environmental goals, paving the way for broader institutional acceptance.
At press time, BTC traded at $50,116.
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