Can Bitcoin Really Become Carbon Neutral?

Queen currency among cryptos, Bitcoin suffers like all its competitors from a major problem: it is (very) energy-intensive. The ecological impact of non-fiat currencies has become one of the main issues in a booming market, and mining is regularly criticized for its carbon footprint. Good news though, there are alternatives that could allow the sector to become more responsible.

Green Bitcoin is possible (in theory)

According to specialist Daniel Batten, who relies on data from the Bitcoin Mining Council, the Bitcoin network could become carbon neutral within a few years. Several initiatives carried out in this direction have already shown encouraging results: it would thus be possible to reduce blockchain carbon emissions by 63%. Concretely, “this means that the 1.57% of the bitcoin network that uses carbon negative sources has a -4.2% impact on the carbon emission of the bitcoin network“, explains Daniel Batten.

According to the explanations of the specialist, relayed by our colleagues from Grandstand corner, several alternative energy sources could thus be used to reduce the carbon footprint of Bitcoin. This is particularly the case for flaring gases, available on oil extraction platforms, or even methane released by organic waste. These gases released by human activity are usually burnt (“flared”) after their extraction. By using them for cryptocurrency mining, this form of valuation could prevent gases from being emitted directly into the atmosphere.

From there to consider that the use of these energy sources could allow Bitcoin to achieve carbon neutrality, there is only one step. This news could arguably be one of the biggest arguments for the Bitcoin cause, and perhaps hope for the reversal of global warming. Remember that some forecasts predict a halving of the population by the end of the century.

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