https://twitter.com/Dennis_Porter_/status/1787905519140880583
New research co-authored by a former Greenpeace activist and an environmental economist (Ph.D.) confirms that #Bitcoin mining is a powerful tool to cleanup the environment and mitigate methane emissions.
THIS PAPER SHOWS THAT:
🌎Bitcoin is good for the environment
💰Bitcoin can fund methane cleanup
♻️ Bitcoin converts waste to economic value
🚗 If 1% of the #BTC network converts to vented methane it would eliminate the emissions equivalent of 9 billion miles driven by a gas-powered vehicle.
This new research challenges the common perception of #Bitcoin mining. It flips the current narrative that "Bitcoin mining is bad for the environment" on its head and instead highlights how #Bitcoin can serve as a powerful force for good.
The PDF presents a novel model for integrating bitcoin mining with landfill gas-to-energy (LFGTE) projects as a potential solution for mitigating methane emissions. The study employs a Monte Carlo simulation to assess the economic viability of this integration, considering factors such as electricity production costs, Bitcoin hashprice fluctuations, and the choice of mining rigs.
The findings reveal that lower electricity costs and higher Bitcoin hashprice significantly enhance the financial outcomes of such integrations. The study demonstrates that modern, energy-efficient mining rigs can substantially improve profitability and act as a buffer against financial losses, underscoring the importance of technological advancements and efficient energy use.
Furthermore, the study estimates that a 1.14 MW facility could mitigate 2,187 metric tons of methane, valued at $7.6 million, offering significant CO2e reductions from previously undeveloped landfills. The scalability of this approach suggests transformative possibilities for global methane mitigation initiatives, extending beyond landfills to sectors like agriculture, food processing, wastewater treatment, and energy.
Overall, the research proposes a novel, market-driven strategy to help mitigate methane emissions and improve environmental sustainability by providing a flexible framework for evaluating various scenarios and contributing to the broader discourse on sustainable energy and the Bitcoin network.
The findings reveal that lower electricity costs and higher Bitcoin hashprice significantly enhance the financial outcomes of such integrations. The study demonstrates that modern, energy-efficient mining rigs can substantially improve profitability and act as a buffer against financial losses, underscoring the importance of technological advancements and efficient energy use.
Furthermore, the study estimates that a 1.14 MW facility could mitigate 2,187 metric tons of methane, valued at $7.6 million, offering significant CO2e reductions from previously undeveloped landfills. The scalability of this approach suggests transformative possibilities for global methane mitigation initiatives, extending beyond landfills to sectors like agriculture, food processing, wastewater treatment, and energy.
Overall, the research proposes a novel, market-driven strategy to help mitigate methane emissions and improve environmental sustainability by providing a flexible framework for evaluating various scenarios and contributing to the broader discourse on sustainable energy and the Bitcoin network.