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August 30, 2022

Bitcoin has the potential to become a zero-emission network

According to a pro-Bitcoin mining paper by self-proclaimed philanthropist Daniel Batten, Bitcoin (BTC) might become a zero-emission network.

The research uses data from the Bitcoin Mining Council to examine the effect of carbon-negative energy sources on Bitcoin’s total carbon footprint. It promises to be able to “predict when the whole Bitcoin network will become a zero-emission network” after further analysis and extrapolation of the data.

But, first and foremost, how can the Bitcoin network become carbon-negative? Simply said, stranded methane gas is used to mine Bitcoin that would otherwise be discharged into the environment. According to the report, this technique, which is currently in place throughout the globe, decreases Bitcoin network emissions by 63%.

“This indicates that the 1.57% of the Bitcoin network that uses carbon-negative sources has a -4.2% effect on the Bitcoin network’s carbon intensity.”

The research makes use of data from several Bitcoin miners using flare gas, including Crusoe Energy in Colorado, Jaienergy in Wyoming, and Arthur Mining in Brazil.

However, it also mentions Bitcoin miners that use waste gases from animal waste, such as Bitcoin miners in Slovakia, to demonstrate how Bitcoin mining may benefit the environment by reducing hazardous methane emissions.

While central bankers and the mainstream media continue to rail against Bitcoin mining’s energy-intensive method, it looks that Bitcoin mining may be a realistic way to reduce emissions.

According to a United Nations analysis, “cutting methane is the most powerful lever we have to reduce climate change over the next 25 years.” Bitcoin miners all across the globe are moving towards zero-emission status by reducing gas flaring and animal waste biogas emissions.

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Cointelegraph spoke with a Northern Irish farmer who has lately begun experimenting with Bitcoin mining. Owen, the farmer, told Cointelegraph that mining Bitcoin using agricultural waste that generates biogas that would otherwise be released into the environment “makes sense.”