{"id":27577,"date":"2022-08-31T03:08:37","date_gmt":"2022-08-31T03:08:37","guid":{"rendered":"http:\/\/egrowonline.com\/?p=27577"},"modified":"2022-08-31T03:08:37","modified_gmt":"2022-08-31T03:08:37","slug":"bitcoin-could-become-a-zero-emission-network-report","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=27577","title":{"rendered":"Bitcoin could become a zero-emission network: Report"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div data-v-3511d6da=\"\">\n<p>A pro-Bitcoin mining report\u00a0from self-proclaimed philanthropist Daniel Batten has <a target=\"_blank\" href=\"https:\/\/batcoinz.com\/quantifying-the-impact-of-using-stranded-methane-on-the-bitcoin-network\/\" rel=\"noopener nofollow\">claimed<\/a> that Bitcoin could become a zero-emission network.<\/p>\n<p>The report builds upon data from the <a target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/sustainable-bitcoin-mining-power-mix-hits-59-5-btc-mining-council\" data-amp=\"https:\/\/cointelegraph-com.cdn.ampproject.org\/c\/s\/cointelegraph.com\/news\/sustainable-bitcoin-mining-power-mix-hits-59-5-btc-mining-council\/amp\" rel=\"noopener\">Bitcoin Mining Council<\/a> to understand the impact of carbon-negative energy sources on Bitcoin\u2019s (<a target=\"_blank\" href=\"https:\/\/cointelegraph.com\/bitcoin-price\" rel=\"noopener\">BTC<\/a>) overall carbon footprint. Following an investigation and extrapolation of the results, it claims to then \u201cpredict when the entire Bitcoin network becomes a zero emission network.\u201d<\/p>\n<p>But how does the network become carbon-negative in the first place? Put simply, by\u00a0<a target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/stranded-no-more-bitcoin-miners-could-help-solve-big-oil-s-gas-problem\" data-amp=\"https:\/\/cointelegraph-com.cdn.ampproject.org\/c\/s\/cointelegraph.com\/news\/stranded-no-more-bitcoin-miners-could-help-solve-big-oil-s-gas-problem\/amp\" rel=\"noopener\">combusting stranded methane gas<\/a> to mine BTC that would have otherwise been emitted into the atmosphere. The study finds that this process, which already happens worldwide, reduces the network\u2019s emissions by 63%.<\/p>\n<blockquote><p>\u201cThat means that the 1.57% of the Bitcoin network using carbon-negative sources have a -4.2% impact on the carbon intensity of the Bitcoin network.\u201d<\/p><\/blockquote>\n<p>The study uses data from various flare gas BTC miners, including Crusoe Energy in Colorado, Jai Energy in Wyoming and Arthur Mining in Brazil. It also touches upon miners using waste gases from animal waste \u2014\u00a0<a target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/the-bitcoin-shitcoin-machine-mining-btc-with-biogas\" data-amp=\"https:\/\/cointelegraph-com.cdn.ampproject.org\/c\/s\/cointelegraph.com\/news\/the-bitcoin-shitcoin-machine-mining-btc-with-biogas\/amp\" rel=\"noopener\">such as those in Slovakia<\/a>\u00a0\u2014 to illustrate that Bitcoin mining can positively impact the environment by preventing the emission of harmful methane gases. <\/p>\n<p>While <a target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/swedish-central-bankers-snipe-bitcoin-mining-cite-rampant-energy-use\" data-amp=\"https:\/\/cointelegraph-com.cdn.ampproject.org\/c\/s\/cointelegraph.com\/news\/swedish-central-bankers-snipe-bitcoin-mining-cite-rampant-energy-use\/amp\" rel=\"noopener\">central bankers and mainstream media continue to snipe<\/a>\u00a0at Bitcoin\u2019s energy-intensive mining process, it appears that mining could be a viable route to cutting emissions. According to a <a target=\"_blank\" href=\"https:\/\/news.un.org\/en\/story\/2021\/05\/1091402\" rel=\"noopener nofollow\">report<\/a> from the United Nations, \u201cCutting methane is the strongest lever we have to slow climate change over the next 25 years.\u201d By eliminating gas flaring or animal waste biogas emissions, Bitcoin miners around the world are working toward the zero-emission goal.\u00a0<\/p>\n<p>Cointelegraph reporter Joe Hall interviewed a Northern Irish farmer who recently began trialing Bitcoin mining. Owen, the farmer,\u00a0<a target=\"_blank\" href=\"https:\/\/twitter.com\/JoeNakamoto\/status\/1557457590438739968?s=20&amp;t=goY-tkIyLTcTq8qa_Zm9Vw\" rel=\"noopener nofollow\">told<\/a> Cointelegraph that mining Bitcoin using farm waste emitting biogas that otherwise would have gone up into the atmosphere\u00a0\u201cmakes sense.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/121c9139-9819-46c3-9de5-529b4218fb10.png\" alt=\"\" title=\"\" \/><figcaption style=\"text-align: center\"><em>Owen, atop an anaerobic digester and in front of a Bitcoin mine, talks to Cointelegraph.<\/em><\/figcaption><\/figure>\n<p>Owen partnered with Scilling Digital Mining, an Irish company that seeks out renewable energy to use for Bitcoin mining. In a nod to further adoption across Ireland, Mark Morton \u2014 managing director at Scilling \u2014 told Cointelegraph:<\/p>\n<blockquote><p>\u201cDaniel [Batten] has done phenomenal work showcasing Bitcoin mining\u2019s methane capture capability. The plaudits for these unfussy energy consumers are only just beginning, and Ireland\u2019s farmers could be the next big adopters of this incredible technology.\u201d<\/p><\/blockquote>\n<p>Morton added that \u201cBitcoin mining will be the catalyst for widespread small-scale, off-grid anaerobic digestion adoption leading to less farm waste, more decentralized network hash rate and lower agricultural emissions.\u201d Farming is <a target=\"_blank\" href=\"https:\/\/www.europeanbiogas.eu\/switch-biogas-save-ireland-massive-fines\/\" rel=\"noopener nofollow\">responsible<\/a> for one-third of Irish greenhouse gas emissions, so capturing waste gas from farming could not only clean up the polluting\u00a0farming\u00a0industry\u00a0but also earn extra revenue through mined BTC.<\/p>\n<p><strong><em>Related: <\/em><\/strong><a target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/banking-uses-56-times-more-energy-than-bitcoin-valuechain-report\" data-amp=\"https:\/\/cointelegraph-com.cdn.ampproject.org\/c\/s\/cointelegraph.com\/news\/banking-uses-56-times-more-energy-than-bitcoin-valuechain-report\/amp\" rel=\"noopener\"><strong><em>Banking uses 56 times more energy than Bitcoin: Valuechain report<\/em><\/strong><\/a><\/p>\n<p>Batten, the report\u2019s author, is an environmentalist who devotes his time to researching Bitcoin and energy consumption. Before advocating for environmentalism through Bitcoin mining, Batten was a philanthropist and venture capitalist. <\/p>\n<p>During a remote presentation at <a target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/prince-philip-of-serbia-suggests-bringing-bitcoin-into-the-classroom\" data-amp=\"https:\/\/cointelegraph-com.cdn.ampproject.org\/c\/s\/cointelegraph.com\/news\/prince-philip-of-serbia-suggests-bringing-bitcoin-into-the-classroom\/amp\" rel=\"noopener\">Surfin\u2019 Bitcoin over the weekend<\/a>, he <a target=\"_blank\" href=\"https:\/\/youtu.be\/oS1FGdngXVs?t=3095\" rel=\"noopener nofollow\">shared<\/a> why Bitcoin mining has become his \u201cmost important mission.\u201d In the presentation, he made a case for methane capture and stressed the urgency of climate change.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-could-become-a-zero-emission-network-report\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A pro-Bitcoin mining report\u00a0from self-proclaimed philanthropist Daniel Batten has claimed that Bitcoin could become a zero-emission network. The report builds upon data from the Bitcoin Mining Council to understand the impact of carbon-negative energy sources on Bitcoin\u2019s (BTC) overall carbon footprint. Following an investigation and extrapolation of the results, it claims to then \u201cpredict when [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":27578,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[37],"tags":[50,175,146,10814],"class_list":["post-27577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-network","tag-report","tag-zeroemission"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/08\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvOWM0ZDMzNTctODZhMi00M2UwLTgxNjItZGM4MGY4YTZmYzllLmpwZw.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/27577","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27577"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/27577\/revisions"}],"predecessor-version":[{"id":27579,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/27577\/revisions\/27579"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/27578"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27577"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}