To better prepare the French against a possible energy shortage, the government is calling for a reduction in gas and electricity consumption. Is this the price to pay for the sanctions imposed on Vladimir Putin because of the Russian-Ukrainian war? Pending the emergence of other alternatives to Russian gas, we draw your attention to a recent report highlighting the impacts of mining of bitcoins on the energy industry and the environment.
Arcane Research, towards the end of the energy crises?
On September 2, Arcane released the results of research into the use of energy by bitcoin miners and its potential to transform the energy industry.
” NEW REPORT: How Bitcoin Mining Can Transform the Energy Industry
Bitcoin miners are uniquely flexible energy consumers that can help solve some of our biggest energy problems.
Powered by @CowaMining
Find out more in our new report: ‘How Bitcoin Mining can transform the Energy Industry‘ “.
Often, the crypto sector receives very “ severe which, in the eyes of Arcane researchers, stems from a lack of understanding of bitcoin and energy systems. However, by changing your point of view, we can see things differently: BTCX mining can “ improve energy systems “.
Four points were raised on the occasion:
- the reinforcement of electrical networks thanks to the bitcoin mining ;
- the resulting improvement in renewable energy economics;
- natural gas wastage mitigation;
- and the reuse of waste heat associated with bitcoin mining.
Rethinking global energy production from bitcoin mining
In this report, Cointelegraph highlighted a thesis stipulating that the bitcoin mining could improve energy production worldwide.
Here is an excerpt from the text supporting this point of view: Most people consider bitcoin mining to be just another energy-intensive industry, but there is one big difference: bitcoin miners are particularly flexible in terms of when and where they are consumed. of energy. »
So far, the no-coiners do not see in the bitcoin mining only negative, without however managing to put forward conclusive figures.
However, the sector represents only a tiny part of energy consumption in the world. Over a year, BTC miners consume only about 100 TWh per year, or 0.06% of total global energy demand.
To say that it takes more than double for the gold mining industry, 240 TWh, and much more for the production of paper.
It should also be mentioned that the mining of bitcoins is conducive to reducing carbon emissions. Because the actors concerned share the same desires to adopt non-flexible renewable energies, like all Earthlings concerned about the future of the planet.
In fact, some politicians like Pete Sessions, a representative from Texas, see bitcoin mining as a shortcut to energy independence for the United States.
Towards the end of April, we also highlighted an unusual initiative from the city of Forth Worth, also in Texas. At that time, local pro-bitcoin politicians decided to install mining of BTC to create permanent bitcoin funds. To power these devices, the municipality had opted for the exploitation of abandoned or surplus energy sources in order to transform them into resources in flow of sats.
Conclusion
Coming back to the numbers, it should be noted that the bitcoin mining industry consumes less energy than the video game industry. Nevertheless, Arcane Research pointed out, in its report, that “ for an investment of $1,000, a bitcoin mining system reduces CO² emissions by 6.32 tonnes per year “. This is to say that the bitcoin and cryptocurrency industry is not as polluting as other sectors. The believers plan for a better future without having to end their mining practice.
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