If the supremacy of bitcoin on the cryptocurrency market does not suffer from any dispute, its environmental impact remains questionable. Indeed, bitcoin mining is regularly criticized for its high energy consumption and the resulting gas emissions. However, the use of alternative energy sources could one day allow the network to be carbon neutral. More details later.
Flaring gas and methane to power BTC miners
Several alternative energy sources are used to date to reduce the carbon footprint of the Bitcoin network. These include flaring gas available on oil extraction platforms and methane released by organic waste. This form of valuation also makes it possible toprevent these gases from being directly emitted into the atmosphere. Ecologist and supporter of bitcoin, Daniel Batten was interested in the contribution of BTC miners using the energy sources mentioned above.
Based on data from the Bitcoin Mining Council, he claims that the Bitcoin network could be carbon neutral thanks to them. Indeed, Mr. Batten revealed that their efforts have already reduced network emissions by 63%. ” This means that the 1.57% of the Bitcoin network that uses carbon negative sources has a -4.2% impact on the Bitcoin network’s carbon emission. “, he concluded in his study report. This is a strong argument to convince all the minors of the network to resort to this practice.
The massive use of these alternative energy sources for mining on the Bitcoin network could therefore provide the latter with a neutral carbon footprint. At the same time, it will significantly reduce greenhouse gas emissions around the world. This contribution to the preservation of the environment will allow BTC miners to improve the image of bitcoin with regulators.
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