The Path To CO2 Negativity For Bitcoin
In a recent series of tweets, Batten responded to apprehensions concerning Bitcoin’s future emissions by stating, “This chart says in one image: fears about Bitcoin future emissions are ungrounded”. He cites the increasing migration of miners to off-grid renewable energy sources and greener grids as the key factors behind BTC’s diminishing emissions despite its growing user base, price, and hash power.
Main Breakdowns:
- Mining companies are increasingly using off-grid renewable energy sources and greener grids to reduce Bitcoin’s emissions.
- Batten launched the CH4Capital Landfill Gas BTC Mining accelerator, which transforms environmental pollutants like vented methane into a power source for Bitcoin mining.
- A single mid-sized landfill using its gas to generate power for Bitcoin mining can mitigate 1Mt CO2e/yr.
- The accelerator is inviting applications from experienced miners and newcomers with operational skills and energy infrastructure experience.
- Batten believes that by the end of 2024, vented methane from landfills for mining could reduce more emissions than its energy sources produce.
Hot Take
The progressive measures adopted by industry leaders like Woo and Batten have the potential to turn the tide on Bitcoin’s carbon footprint. Their green initiatives promise a future where Bitcoin not only generates wealth but also contributes to a sustainable and cleaner planet.