It's truly amazing that while the use of energy in Bitcoin mining is valid enough reason, whether the source is renewable or not, miners are still looking for ways to mitigate its environmental impact.
Not only are miners gradually shifting to the use of renewables, they are also using excess energy that the grid cannot anymore store, energy which is otherwise wasted and unused.
There is also the use of methane which is otherwise flared. Not only does Bitcoin mining make use of such waste, in effect, it also saves the environment from the harmful effects of gas flaring.
Other than this, we've also read how the heat emitted from Bitcoin mining is recycled in many ways, to heat office buildings and homes, to grow plants, and so on.
I'd like to believe that all this is done not because Bitcoin mining is heavily subjected to severe criticism and FUD by clueless critics but because the Bitcoin miners themselves are also aware of the earth's state of health.
Topic: Bitcoin, an opening to incentivize opportunity for the use of renewable energy (Read 143 times)
September 08, 2022, 09:01:30 PM
September 08, 2022, 07:41:05 PM
Forcing crypto mining farms to have adaption to become more environmental friendly is good and is a thing should be done.
However, if accusing that crypto mining industry is the main or one of main causes of global warming and climate change, that is absolutely not true. According to stats from Bitcoin mining council, you can easily see that the total electricity consumed by Bitcoin mining is smaller than other industries. More impressively, Bitcoin mining industry uses more renewable energy resources than other industries and all the world.
It's 59.5% sustainable in Q2 2022 (take from the source below)
Q2 2022 Bitcoin Mining Council survey confirms year on year improvements in sustainable power mix and technological efficiency
Watch more on Youtube for result discussion: https://www.youtube.com/watch?v=9ISSe8A3pVc
However, if accusing that crypto mining industry is the main or one of main causes of global warming and climate change, that is absolutely not true. According to stats from Bitcoin mining council, you can easily see that the total electricity consumed by Bitcoin mining is smaller than other industries. More impressively, Bitcoin mining industry uses more renewable energy resources than other industries and all the world.
It's 59.5% sustainable in Q2 2022 (take from the source below)
Q2 2022 Bitcoin Mining Council survey confirms year on year improvements in sustainable power mix and technological efficiency
Watch more on Youtube for result discussion: https://www.youtube.com/watch?v=9ISSe8A3pVc
September 08, 2022, 05:09:26 PM
Is there not limitations to this?
It's extra money for energy generating companies but the mining might be sporadic and I don't know how well that'll work for both the miners and the energy firms running them (and the network as a whole) - I guess it's possible waste energy can be estimated and battery systems could be set up to take the energy and use it for the miners to keep them running instead though (I don't know if batteries feeding back to the grid is a good idea as you'd still end up with surplus power that could be used for crypto mining or other oporstuons - like data mining or offering companies slightly cheaper rates for running appliances at that time).
It's extra money for energy generating companies but the mining might be sporadic and I don't know how well that'll work for both the miners and the energy firms running them (and the network as a whole) - I guess it's possible waste energy can be estimated and battery systems could be set up to take the energy and use it for the miners to keep them running instead though (I don't know if batteries feeding back to the grid is a good idea as you'd still end up with surplus power that could be used for crypto mining or other oporstuons - like data mining or offering companies slightly cheaper rates for running appliances at that time).
September 08, 2022, 12:44:51 PM
Bitcoin, an opening to incentivize opportunity for the use of renewable energy, this is coming in as an explanation on the use of bitcoin mining in providing a lasting solution to the environmental degredation, harzard and toxics release to the environmen while with the use of renewable energy to lessen the increasing electricity cost across mining rigs, the United States will definitely comes out plain with their take on bitcoin adoption with time at last, let's dive into the real scene in proper from the official statement captured below.
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