This article was originally published by Daniel Batten, Managing Partner at CH4 Capital, on LinkedIn
Many people don’t realise how much peer reviewed scientific literature came out in the last 18 months endorsing potential net-positive impact of Bitcoin mining on environment.
Here’s 5 of the most recent publications with source, headline and summary.
Bitcoin Environmental Impact: List of Studies
1. How Bitcoin Can Support Renewable Energy Development and Climate Action
(Cornell University)
Source: https://pubs.acs.org/doi/10.1021/acssuschemeng.3c05445
Summary:
Bitcoin mining helps renewable developers generate more profits that is typically re-invested, accelerating the renewable transition.
2. Bitcoin’s Carbon Footprint Revisited: Proof of Work Mining for Renewable Energy Expansion
Source : https://www.mdpi.com/2078-1547/14/3/35
Summary:
[our research finding support] a possible role for Bitcoin mining in promoting grid decarbonization” through effective demand response.
3. Promoting rigor in blockchain energy and environmental footprint research: A systematic literature review
Source : https://www.sciencedirect.com/science/article/pii/S2096720923000441?via%3Dihub
Summary:
Reveals fundamental flaws in the work of Alex de Vries/Digiconomist (heavily quoted by mainstream media). Flaws include selective use of data, building models that rely on anecdotal examples, using data that is known to be meaningfully out of date, using small datasets that are assumed to be representative, developing methodologies that do not build on existing theory, presenting methods without contextualizing.
4. Bitcoin and Its Energy, Environmental, and Social Impacts
Source: https://www.mdpi.com/2078-1547/14/4/47
Summary:
“There is transformative potential in the Bitcoin mining sector, especially regarding demand response, grid flexibility, and methane mitigation.”
5. Drivers of Bitcoin Energy Use and Emissions
Hass McCook (Oxford, Conference Paper)
Source: https://link.springer.com/chapter/10.1007/978-3-031-32415-4_2
Summary:
With greater machine efficiency & more sustainable energy sources, Bitcoin mining’s emissions has likely already peaked and is now trending downwards.
