Anyone could point me at the data on renewable energy curtailment from any location/specific grid? Ideally, I'd want daily, if not real-time, information on how much renewable power is being curtailed, along with the specific generation locations affected.
THe end-goal is to make a real-life case for estimating "missed" opportunity in Bitcoin terms.
For example, in 2023 Northern Ireland had to curtail 539 GWh of wind energy (1), which is 18.6% of the total wind energy generated there. Id like to put that into perspective, it’s 60 MW of capacity (2). A rough theoretical estimation shows this missed energy could have been converted into over 500 BTC (3)!
Notes:
(1) https://www.soni.ltd.uk/how-the-grid-works/renewables/Annual-Renewable-Constraint-and-Curtailment-Report-2023-V1.0.pdf
(2) 539 / 8760 hours = 61.5 MW
(3) Take old s9 model (1.323kW)... 61500 kW / 1.323kW = 46485 units (we ofc have to add capex/opex data). Also the curtailment is distributed over time and space.
Here is the rough theoretical estimation:
https://aidala.uk/dashboard?hash=U2FsdGVkX18ocOrsw94OY9bADR7p8%2BKDa15esOX26k8VtXKWl36q1i%2B%2F7gtbb%2FYOxnMYO7ItaBLYsmeRSys1BTJ%2FzVRFpbWQiVbSvVFIUp3UBSj2wmZc79hVDXwhyG7ajWQtKYspkPK2DETms34d9J8CH1G0MWJdwxOB7OXucLfvKkaE68WzMck2uRpdTbB57KO00sY%2B8PWfNdu3ceLZShX%2B7DpSyHBoRxL5PUmUtV8%3D
Topic: Debunking the "Bitcoin is an environmental disaster" argument. (Read 5220 times)
August 18, 2024, 06:16:04 PM
We are back a t it with the Bitcoin power consumption and the need to tax it to avoid moners to indulge in such a waste of energy:
Carbon Emissions from AI and Crypto Are Surging and Tax Policy Can Help
We have been there before.
Luckily the response wasn't held back for long:
IMF Tax Increase Proposal for Crypto Miners Faces Industry Criticism
The road to education, is still long, apparently.
Carbon Emissions from AI and Crypto Are Surging and Tax Policy Can Help
Quote
The climate impact of these activities—irrespective of their social and economic benefits—is cause for concern.
We have been there before.
Luckily the response wasn't held back for long:
IMF Tax Increase Proposal for Crypto Miners Faces Industry Criticism
Quote
Industry leaders, however, have responded with sharp criticism. Daniel Batten, a Bitcoin environmental analyst and Marathon Digital advisory board member, described the IMF’s report as misleading and poorly researched. He accused the IMF of unfairly associating the carbon impact of AI data centers with Bitcoin mining, ignoring the crypto industry’s significant advancements in sustainability.
The road to education, is still long, apparently.
yesterday, Greenpeace published a detailed report that allegedly establishes the links between Bitcoin miners, corporate interest groups and climate deniers. as was to be expected, Greenpeace's latest comments also contain numerous false and refutable statements.
https://www.greenpeace.org/usa/reports/mining-for-power/
https://www.greenpeace.org/usa/wp-content/uploads/2024/03/Bitcoin-Mining-for-Power.pdf
the way Greenpeace criticizes - often through demonstrably false claims presented as incontrovertible 'facts' - is increasingly undermining the group's reputation. instead of making a constructive contribution to the discourse on the environmental impact of BTCitcoin, the organization is falling into a pattern of disinformation and exaggeration. this not only damages the credibility of Greenpeace itself, but also the wider environmental cause by raising doubts about the reliability and objectivity of the information presented by the scene.
WEF has entered the chat:https://www.greenpeace.org/usa/reports/mining-for-power/
https://www.greenpeace.org/usa/wp-content/uploads/2024/03/Bitcoin-Mining-for-Power.pdf
the way Greenpeace criticizes - often through demonstrably false claims presented as incontrovertible 'facts' - is increasingly undermining the group's reputation. instead of making a constructive contribution to the discourse on the environmental impact of BTCitcoin, the organization is falling into a pattern of disinformation and exaggeration. this not only damages the credibility of Greenpeace itself, but also the wider environmental cause by raising doubts about the reliability and objectivity of the information presented by the scene.
https://www.instagram.com/worldeconomicforum/reel/C35FfRytPtJ/
https://www.weforum.org/videos/bitcoin-mine-power/
Told ya: renewable energy + Bitcoin mining will be the best combo ever invented!
Habitual contrarians didn't believe me.
yesterday, Greenpeace published a detailed report that allegedly establishes the links between Bitcoin miners, corporate interest groups and climate deniers. as was to be expected, Greenpeace's latest comments also contain numerous false and refutable statements.
https://www.greenpeace.org/usa/reports/mining-for-power/
https://www.greenpeace.org/usa/wp-content/uploads/2024/03/Bitcoin-Mining-for-Power.pdf
the way Greenpeace criticizes - often through demonstrably false claims presented as incontrovertible 'facts' - is increasingly undermining the group's reputation. instead of making a constructive contribution to the discourse on the environmental impact of BTCitcoin, the organization is falling into a pattern of disinformation and exaggeration. this not only damages the credibility of Greenpeace itself, but also the wider environmental cause by raising doubts about the reliability and objectivity of the information presented by the scene.
https://www.greenpeace.org/usa/reports/mining-for-power/
https://www.greenpeace.org/usa/wp-content/uploads/2024/03/Bitcoin-Mining-for-Power.pdf
the way Greenpeace criticizes - often through demonstrably false claims presented as incontrovertible 'facts' - is increasingly undermining the group's reputation. instead of making a constructive contribution to the discourse on the environmental impact of BTCitcoin, the organization is falling into a pattern of disinformation and exaggeration. this not only damages the credibility of Greenpeace itself, but also the wider environmental cause by raising doubts about the reliability and objectivity of the information presented by the scene.
November 16, 2023, 05:09:19 PM
A very interesting research resulting from a collaboration between Marathon Mining and Bitcoin Magazine:
Cashing on trash
The idea is sort of "greenwashing" the Bitcoin industry, turning it from an energy waste producer to an energy optimising one. The Bitcoin mining industry wants to become the first carbon-negative industry.
Provided that you can demonstrate to me how an industry relying on electric power can directly emit GHG.
Cashing on trash
Quote
TLDR
Landfills are a significant contributor to global methane emissions, which, if mitigated, could have a greater environmental impact than managing carbon dioxide emissions.
Conventional methane management methods, such as venting and flaring, are inefficient and environmentally damaging, while waste-to-energy solutions, like selling electricity to the grid or distributing renewable natural gas (RNG) via pipelines, often prove economically infeasible for smaller or remote landfills.
Bitcoin mining offers a market-based approach to reducing methane emissions from landfills by converting otherwise wasted potential energy into economic value. Bitcoin mining requires minimal investments in infrastructure, and it is geographically flexible, modular, and scalable. In theory, Bitcoin mining can therefore help any landfill, regardless of its size and geographic location, reduce its emissions while benefiting from an additional stream of income.
Landfills are a significant contributor to global methane emissions, which, if mitigated, could have a greater environmental impact than managing carbon dioxide emissions.
Conventional methane management methods, such as venting and flaring, are inefficient and environmentally damaging, while waste-to-energy solutions, like selling electricity to the grid or distributing renewable natural gas (RNG) via pipelines, often prove economically infeasible for smaller or remote landfills.
Bitcoin mining offers a market-based approach to reducing methane emissions from landfills by converting otherwise wasted potential energy into economic value. Bitcoin mining requires minimal investments in infrastructure, and it is geographically flexible, modular, and scalable. In theory, Bitcoin mining can therefore help any landfill, regardless of its size and geographic location, reduce its emissions while benefiting from an additional stream of income.
The idea is sort of "greenwashing" the Bitcoin industry, turning it from an energy waste producer to an energy optimising one. The Bitcoin mining industry wants to become the first carbon-negative industry.
Provided that you can demonstrate to me how an industry relying on electric power can directly emit GHG.
October 02, 2023, 01:09:11 AM
Semi-serious post.
The idea is not new. There are loads of projects to use miners to heat something: from hot tubs to houses.
Here miner's heat is used to heat tulips bulbs, a clear reference to the 1637 Dutch Tulips bubble
Bitcoin allows to use every form of energy more efficiently.
The idea is not new. There are loads of projects to use miners to heat something: from hot tubs to houses.
Here miner's heat is used to heat tulips bulbs, a clear reference to the 1637 Dutch Tulips bubble
Bitcoin allows to use every form of energy more efficiently.
September 01, 2023, 09:16:20 AM
Cambridge University just updated its methodology to compute the Cambridge Bitcoin Electricity Consumption Index (CBECI), an index aimed at estimating the network Power Usage.
Bitcoin electricity consumption: an improved assessment
They discovered that the Power estimate was constantly overrated as they underestimated the substitution rate of older miners. Newer miners have increased efficiency: either they churn more hash per J or consume less J to churn the identical hashes.
If a more significant part of the mining hardware than previously thought is new, then the average power consumption per hash is lower than previously thought.
Bitcoin electricity consumption: an improved assessment
Quote
Examining the underlying assumptions behind the Cambridge Bitcoin Electricity Consumption Index (CBECI) has led to its first significant revision since its launch in 2019 – a response to evidence indicating a periodic overestimation of electricity consumption.
They discovered that the Power estimate was constantly overrated as they underestimated the substitution rate of older miners. Newer miners have increased efficiency: either they churn more hash per J or consume less J to churn the identical hashes.
If a more significant part of the mining hardware than previously thought is new, then the average power consumption per hash is lower than previously thought.
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Over the last 10 years miner became almost 10x more efficient.
August 12, 2023, 07:02:52 AM
And so we are asking one more time again that when will you resume bitcoin payment Elon Musk? this was traced according to his last porported feed on bitcoin mining and sustainability, he made mentioned that when bitcoin remains 50% mining energy sustainable, he will resume payment with bitcoin, now the bitcoin mining of 59.9% energy sustainable as information from the bitcoin mining council, bitcoin is environmentally friendly, energy efficient and sustainable for utilization in mining compared to other kinds of mining. Hint: not before 2025. Reference links: https://twitter.com/BitcoinMagazine/status/1689397387670794240?t=8f2WpWPLma40-GaAdgrYlw&s=19 https://bitcoinminingcouncil.com/bitcoin-mining-electricity-mix-increased-to-59-5-sustainable-in-q2-2022/ August 12, 2023, 03:51:10 AM
And so we are asking one more time again that when will you resume bitcoin payment Elon Musk? this was traced according to his last porported feed on bitcoin mining and sustainability, he made mentioned that when bitcoin remains 50% mining energy sustainable, he will resume payment with bitcoin, now the bitcoin mining of 59.9% energy sustainable as information from the bitcoin mining council, bitcoin is environmentally friendly, energy efficient and sustainable for utilization in mining compared to other kinds of mining.
Reference links: https://twitter.com/BitcoinMagazine/status/1689397387670794240?t=8f2WpWPLma40-GaAdgrYlw&s=19 https://bitcoinminingcouncil.com/bitcoin-mining-electricity-mix-increased-to-59-5-sustainable-in-q2-2022/ August 02, 2023, 07:20:16 AM
The abstract shows that bitcoin dominating We already knew that, we don’t need KPMG to state that! But it’s nice to know they know that as well! August 02, 2023, 07:16:57 AM
A great paper was published today by KPMG: The abstract shows that bitcoin dominating the cryptocurrency Ecosystem space day by day. In 2022 people were really saying that bitcoin would collapsed because of it downward in the year. The bear market of bitcoin in the 2022 made many people to be scared of the technology because many companies collapsed base on it bearish market at that time.  Quote The rise of bitcoin Despite 2022 being a tumultuous year for Bitcoin, it continues to dominate the headlines. Its maturity into a traditional asset class is evident simply by seeing its ticker symbol “BTC” displayed on popular morning finance shows and news sites. However, despite Bitcoin’s continued adoption, it continues to be a misunderstood technology and asset class. In this paper, we’ll evaluate the environmental, social, and governance impact, as well as dispel some of the misconceptions that still thrive today, and consider how Bitcoin stacks up against an ESG framework. Everything it is written in this paper is well known to you, avid readers of this forum and thread, but the fact that it is coming from KPMG is astounding. Not because the things written in the paper are now more true, but because it demonstrates times are slowly changing. August 02, 2023, 07:08:22 AM
A great paper was published today by KPMG:
Quote The rise of bitcoin Despite 2022 being a tumultuous year for Bitcoin, it continues to dominate the headlines. Its maturity into a traditional asset class is evident simply by seeing its ticker symbol “BTC” displayed on popular morning finance shows and news sites. However, despite Bitcoin’s continued adoption, it continues to be a misunderstood technology and asset class. In this paper, we’ll evaluate the environmental, social, and governance impact, as well as dispel some of the misconceptions that still thrive today, and consider how Bitcoin stacks up against an ESG framework. Everything it is written in this paper is well known to you, avid readers of this forum and thread, but the fact that it is coming from KPMG is astounding. Not because the things written in the paper are now more true, but because it demonstrates times are slowly changing. Bitcoin is actually good for the environment, and more and more institutions understand that So while it recognises the importance of the role played by Bitcoin miners in carbon curtailment via the recovery of methane in "dead wells", as well as the rebalancing benefit in a network, they reject the claim that Bitcoin miners are distinguished users of renewable energy, butting their non-fossil usage absolutely on par with other industries. Wow this is an amazing PDF, an added advantage to Bitcoin mining, miners are not to profit from the process alone but the environment included in its own form, Bitcoin is not just proving to be the best cypto currency but also beneficial to the environment, I see this as an opportunity for Bitcoin to be accepted by nations all over the world as the year proceeds, Thanks for the post sir.
Bitcoin is actually good for the environment, and more and more institutions understand that:
 Here is a direct link to the paper: Climate Impacts of Bitcoin Mining in the U.S. Quote Abstract Opinions regarding the climate impacts of Bitcoin mining deviate fundamentally between scholars and Bitcoin proponents. We validate arguments from both sides and provide empirical evidence for the extent and energy sources of Bitcoin mining in the U.S. We provide empirical evidence that at least 38% of all Bitcoin mining activity has migrated to the U.S. and Canada as of the end of 2022 and show that the carbon emissions caused by the 13 analyzed publicly listed miners in the U.S. alone add up to 7.2 MtCO2 per annum. At the same time, the financial incentives of the Bitcoin network may, for instance, subsidize the sealing of orphaned wells and thereby reduce methane emissions at scale. The growing transparency on locations and energy sources of large publicly listed Bitcoin miners highlights the value of disclosure obligations and may help dismantle unsupported industry claims, improve assumption- based academic models, and point regulators to areas where Bitcoin mining may bring climate benefits.So while it recognises the importance of the role played by Bitcoin miners in carbon curtailment via the recovery of methane in "dead wells", as well as the rebalancing benefit in a network, they reject the claim that Bitcoin miners are distinguished users of renewable energy, butting their non-fossil usage absolutely on par with other industries. bitcoin mining rig under a volcanic renewable energy source in El-Savador, bitcoin is environmentally friendly. disagree (not sure if this is the linked article verbatim, didn't check) this is yet another (and there are soooo many  ) example of IPCC driven corporate drivel.most renewable energy products destroy or disrupt pretty large natural habitats and the (former) ecosystem that depended on it. Hydro dams are perhaps the worst, and I was surprised to see recently that experts on desert ecology claim that solar farms ravage the extensive underground system of plant roots that represents a significant part of the livable portion of that type of habitat (who knew?). but this is a case-by-case thing if ever there was, perhaps volcanoes don't house much wildlife to speak of (after the revelations about the desert though, I wouldn't be surprised if that's wrong) I understand that going back to the stone age is the only realistic way to genuinely protect wildlife from human encroachment. But please, let's call it like it is: renewable energy projects invariably fuck the natural world up, and so the proven false arguments about anthropogenic climate change are in fact hiding the reality that industrial landscapes (which renewable energy plants are) are being extended even further into nature in the name of preserving or protecting it. quelle surprise: UN agency tells extraordinarily humongous lies that destroy the very thing they claim to seek preservation of, and generate further money (for their friends) and power (for themselves) in the process.
The more we keep saying why bitcoin mining is more environmentally friendly has brought about the decision for the use of a Natural Volcanic Energy for Bitcoin Mining in El-Savador, this is one of the best ways to adopt the use of a renewable energy source for bitcoin mining without having the power challenge from centralized authorities and governments across the world concerning the energy demands for this same bitcoin mining.
El-Savador is now getting more and more global attraction ever since it bitcoin adoption as legal tender, moreso, we have a number of miners considering El-Savador and it's new discovery of the use of volcanic thamal energy for their bitcoin mining after leaving the US due to the unceasant government demands on regulations, Tether is making this first move to create a bitcoin mining rig under a volcanic renewable energy source in El-Savador, bitcoin is environmentally friendly. Source: https://tether.to/en/tether-participates-in-1-billion-investment-to-build-the-worlds-largest-bitcoin-mining-farm-in-el-salvador/
Another plan by Bhutan renewable bitcoin hydroelectric power plan is to boost it's operations in other to increase the mining activities thereby putting in the sum of about $500 million to move it mining operations to the next level.
https://twitter.com/BitcoinMagazine/status/1654093859322834946?t=eRC9bRHD4fOHj2K7gEAW9Q&s=19 we could see that after the discovery of this new mining activities from Bhutan after some years of being silence and unknown, they seems to be fully prepared for the task ahead towards mining bitcoin after understanding that role of financial capacity in this and hopefully Bhutan is going to be one the the most recognized bitcoin renewable mining facility in the world if they remain unstoppable in this.
Another big discovery of an environmentally friendly bitcoin mining has been identified, information coming from Bhutan whereby it uses the Himalayan hydroelectric power supply to source for it renewable bitcoin mining energy needed, the more interesting aspects of this does not end with the use of a renewable energy source which is environmentally friendly but the mining plant had been long in existence some years ago when bitcoin prize was as low as $5,000 and people don't know about this achievement with Bhutan.
Quote Bitcoin mining is the world’s cleanest industry, with more than 50% of its energy sources being renewable or clean energy. Bitcoin mining advocates, such as MicroStrategy chairman Michael Saylor, explain that “99.92% of carbon emissions in the world are due to industrial uses of energy other than Bitcoin mining.“ Due to cheap, abundant hydroelectric power, DHI reported that Bhutan is an ideal destination for mining Bitcoin. https://cointelegraph.com/news/bhutan-bitcoin-mining-with-hydropower-since-btc-price-was-5-000  source Bitcoin mining is environmentally friendly, it does not pollute the environment, it rather provides solution to the already dilapidating one caused due to other human activities, the best way to mine bitcoin is to go through a renewable energy as such discovered in Bhutan hydroelectric power for mining bitcoin.
Just to let you know this thread has been translated into Romanian by my friend Gazetabitcoin:
Bitcoin Energy Mix is far better than the one used by EV's, yet they want to ban Bitcoin mining, even if it doesn't emit a single gram of CO2.  I suggest you to check the whole analysis: BITCOIN BY ENERGY SOURCE Jump to:
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