Bitcoin Mining Reduces Emissions By 6%

Timeline for CO2 Negative Growth

Contrary to popular belief, bitcoin mining may be carbon neutral or even CO2 negative. The bitcoin infrastructure is on course for becoming carbon-neutral, having 6% of operator CO2 being currently offset via methane capture mining, noted reputable off-chain analyst Willy Woo via Twitter. Woo asserts that as businesses like CH4 Capital, headed by ESG expert Daniel Batten, assume an early part in this green revolution, the transition is ready to make a huge step forward. Over the next year, Batten’s company plans to invest $50 million on methane capture mining, potentially raising the mitigation rate to 17%. The environmental impact of Bitcoin mining could be completely offset with an expenditure of $450 million, according to Woo, making the industry carbon negative. Woo revealed the brand-new graph and said: ‘With an investment of $450 million, it would reach 100% and then become carbon negative. The gas methane minimizing mining is a lucrative industry; therefore, this will take place sooner than you think.’

The Road to Bitcoin CO2 Negativity

Batten recently tweeted, “The graph demonstrates in one the following picture: fears regarding Btc future emissions are ungrounded,” in response to worries about the cryptocurrency’s emissions in the future. Despite BTC’s expanding user population, price, and hash power, he attributes the majority of the decrease in emissions to miners’ increased migration to off-grid sources of energy and greener grids. Additionally, Batten just unveiled the CH4 Capital Landfills Gas BTC Processing accelerator, a ground-breaking program that welcomes eight mining firms dedicated to turning environmental contaminants as evacuated biogas into a source of energy for future generations of finance. Batten added that the acceleration is seeking submissions from experienced commercial miners as well as individuals who are new to Bitcoin mining but have considerable expertise in operational skills and electrical systems. The accelerator began its operations on August 1 with “eight bitcoins mining companies that are all committing to convert a greenhouse gas (vented methane) into an alternative form of power for a future generation of finance.”