Bitcoin Mining To Reduce Methane Emissions by 2030, Here’s How?
- An ESH analyst highlights an advantage of Bitcoin mining, says could reduce methane emissions by 2030.
- He suggests converting Methane into Carbon Dioxide and utilizing it to power the mining rigs.
- He explained his ideas in a lengthy Twitter thread highlighting how it is possible.
Research highlights that Methane, a greenhouse gas, has 80x more potential of contributing to climate change compared to carbon dioxide (CO2) during its first twenty years in the atmosphere.
And now a prominent environment, social and governance (ESG) analyst and bitcoin investor Daniel Batten, signifies that BItcoin mining can considerably decrease the amount of methane concentrations in the atmosphere.
He argues that eliminating the equivalent of one ton in methane emissions is more effective than avoiding the same amount of carbon dioxide. And he plans to convert methane into carbon dioxide, and utilize that to power bitcoin mining.
The analyst highlighted his views via a lengthy Twitter thread, that you do that by discovering leaking methane and cleanly burning it to generate electricity.
The miners of the crowned crypto-asset have already initiated an experiment with the stranded gas, to power their mining rigs. Apparently, this is gas that would go to waste or be burnt. The analyst highlights that miners could add to this energy produced from landfills.
He explains that if Bitcoin miners were used throughout the world’s oil fields and landfills, they would decrease our global emissions by a huge 8.5%: 1.5% for oil fields and 7% for landfills.
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Bitcoin mining has always been a topic of discussion worldwide. Several entities have raised their voice from time to time highlighting the environmental effects that mining causes.
But Batten also signified that methane emissions are not all that can work for Bitcoin mining.
He explains that we need to do both methane and CO2 reduction together, while methane is more lethal, carbon dioxide is much more prevalent. Hence, reducing the emissions of each by 50% is essential.
There have been mixed reactions regarding Bitcoin mining, there are some who express vehement criticisms while there are some who think it does not affect the environment so much. It is to look forward to how the mining concept evolves in the future and what stand the concerned entities would take.
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Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
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Source: Bitcoin Mining To Reduce Methane Emissions by 2030, Here’s How?
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