Daniel Batten is a technology investor and ESG expert who believes that Bitcoin mining is bringing more green energy into the market.
“Bitcoin mining could be the century’s most important sustainable innovation,” said Batten in a detailed X on Thursday.
He pointed it out. a lot has changed Since 2021, when Bitcoin mining was powered only by 34% renewable energy.
This is the latest data Batten, Willy Woo and the Digital Assets Research Institute show that, just four years after, 56,7% of Bitcoin is mined using sustainable energy.
However, Batten argues that Bitcoin does more than just use green energy — it can also help the industry grow.
Bitcoin can remove bottlenecks in on-grid solar energy
Bitcoin mining can remove major bottlenecks in the green energy industry by buying renewable projects that are stuck on interconnection lines of 10 to 15 years, according to him.
The payback time for clean energy projects can be reduced from 8 years to 3 1/2 years.
Related: Nine myths about Bitcoin energy use challenged by data, ESG expert says
BTC mining also provides flexible demand, stabilizing grids using variable renewable resources. This gives operators the confidence to increase solar and wind power.
Electric heat replaces fossil fuels
Heating, mostly using fossil fuels, accounts for around 50% of all global energy. Bitcoin mining waste heat is an alternative to fossil fuels, according to him.
Some examples included district heating in Finland by the mining firm MARA. It heats around 80% of residents, or 2%, with Bitcoin mining heat.
Numerous companies offer Bitcoin-powered heaters for the home. In addition, there are many industrial uses, including solar-powered Bitcoin miner to provide heat in greenhouses.
Funding renewable energy R&D
“Bitcoin mining has been responsible for reviving mothballed renewable energy technologies such as OTEC (Ocean Thermal Energy Technology),” said Batten.
OTEC has been a forgotten renewable technology since the 80s because of cost concerns. By providing income without expensive grid connections, miners can contribute to solving the problem.
BTC mining Also powers rural Africa microgrids through “Gridless Compute,” Electricity is now available to 8,00 previously disconnected homes in Kenya Malawi and Zambia.
Stopping harmful methane emission
Bitcoin mining targets three carbon-intensive practices, including gas peaker plants and landfill methane.
Many innovative businesses are now using this technology. wasted primary emission Mine Bitcoins to prevent them from being burnt and causing emissions.
“The combined impact of carbon-negative Bitcoin mining is that mitigation has already reached 7% of the Bitcoin network’s emissions,” Batten said, concluding:
“Bitcoin mining has emerged as a linchpin for addressing four systemic barriers to climate progress, as demonstrated by both real-world data and case studies.”
Magazine: Big questions: Would Bitcoin survive a 10-year power outage?
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Source: cointelegraph.com
