Critics of the Bitcoin ecosystem accuse it of being very little concerned about the environment because it consumes a lot of energy with a significant carbon impact. According to a recent analysis, this idea is not at all true because this ecosystem would consume a lot of renewable energy. This, in much greater quantity than many other major economic sectors.
The Bitcoin crypto ecosystem consumes 52.6% of renewable energy…
Energy consuming! This is the label that we stick to the crypto ecosystem around the Bitcoin network to explain how the latter has no respect for the environment and climate issues. A recent study has just overturned this idea.
Disclosed by Daniel Batten, co-founder of CH4Capital.com and investor in sustainable technologies, it shows that this allegation does not hold up. Because, contrary to popular belief, the Bitcoin crypto ecosystem consumes much more renewable energy than several other sectors.
Data from CH4 Capital.com show that it uses exactly 52.6% green energy to operate. On this basis, this crypto universe beats notable sectors such as banks (39.2%), industry (32%) and agriculture.
The Bitcoin ecosystem’s use of renewable energy also far exceeds that of the gold mining industry (12.8%) and the iron and steel industry (9.8%). We are still talking about extremely strategic sectors for the global economy!
While remaining stable in terms of CO emissions2 !
The conclusions of the analysis disclosed by Daniel Batten go much further. For example, carbon dioxide emissions from operations related to the Bitcoin network have not increased at all. Although they did not decline, they remained stable.
This has particularly been the case over the past four years. Over this period, CO emissions2 of the Bitcoin crypto network remained at 35 metric tons of carbon dioxide equivalents (MtCO2e).
This stability is quite remarkable. Especially when we know that the hashrate, the element of measurement of the total computing power deployed on the Bitcoin blockchain network, recently reached a record level. These revelations are not without implications. They call into question the classic attack made against the crypto industry according to which it does not respect the environment. A reassessment of the environmental impact of other industries is necessary. Because ultimately, the crypto sector could be much more of a model of sustainability than we previously thought.
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