An ESG focused-fund manager challenges Greenpeace’s claims about Bitcoin mining
An ESG focused-fund manager, CH4 Capital co-founder David Batten, has rejected Greenpeace’s claims that Bitcoin mining is a major source of pollution and societal harm. Greenpeace urged Bitcoin-friendly financial services companies to denounce Bitcoin’s “climate destruction” and advocate for a “cleaner protocol” to replace the mining industry. Batten argues that Bitcoin mining actually helps build out the renewable grid and cited experts who support this view. He also criticized Greenpeace’s report, stating that it uses misleading facts and figures and relies on unsubstantiated fear. Batten highlighted that Bitcoin’s emissions are falling over time and that mining operations are transitioning to more sustainable power sources. His fund invests in companies that mine Bitcoin using purified landfill gas, reducing emissions. Batten believes that his fund can finance the Bitcoin network while abating more emissions than it creates.
Key Points:
- CH4 Capital co-founder David Batten challenges Greenpeace’s claims about Bitcoin mining.
- Batten argues that Bitcoin mining helps build out the renewable grid.
- He criticizes Greenpeace’s report for using misleading facts and figures.
- Batten highlights that Bitcoin’s emissions are falling over time.
- His fund invests in companies that mine Bitcoin using purified landfill gas.
Hot Take:
ESG focused-fund manager David Batten strongly opposes Greenpeace’s claims about Bitcoin mining, arguing that it is beneficial for the environment. He counters Greenpeace’s assertions with evidence showing that Bitcoin’s emissions are decreasing and that mining operations are transitioning to more sustainable power sources. Batten’s fund invests in companies that mine Bitcoin using purified landfill gas, further reducing emissions. He believes that his fund can finance the Bitcoin network while abating more emissions than it creates. The Bitcoin community has largely rejected Greenpeace’s campaign, viewing it as an attack on the cryptocurrency. Batten questions the intentions of Ripple co-founder Chris Larsen, who backed Greenpeace’s campaign with a large sum of money.