{"id":169527,"date":"2023-01-13T07:26:30","date_gmt":"2023-01-13T07:26:30","guid":{"rendered":"https:\/\/precoinnews.com\/?p=169527"},"modified":"2023-01-13T07:26:30","modified_gmt":"2023-01-13T07:26:30","slug":"climate-tech-vc-argues-bitcoins-esg-positives-outweigh-its-negatives-311","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/climate-tech-vc-argues-bitcoins-esg-positives-outweigh-its-negatives-311\/","title":{"rendered":"Climate tech VC argues Bitcoin's ESG positives outweigh its negatives 31:1"},"content":{"rendered":"

A climate tech investor has painted a bright view of the Bitcoin (BTC) network, suggesting BTC\u2019s environmental positives outweigh its negatives by a whopping 31:1 ratio.<\/p>\n

On Jan. 12, self-proclaimed philanthropist and environmentalist Daniel Batten claimed in a Twitter thread that \u201cBitcoin is probably the most important ESG technology of our time.\u201d<\/p>\n

According to Batten, the 31:1 positive impact ratio was calculated by researching and interviewing grid engineers, climate scientists,\u00a0BTC mining engineers, methane abatement experts, and solar and wind installers.<\/p>\n

The findings discovered 21 ways Bitcoin could be an environmental positive and just five ways it could be an environmental negative.<\/p>\n

Batten said that the findings were \u201cuncannily similar\u201d to those for the solar industry.<\/p>\n

Many of the positives involved renewable energy grids and benefits from mining such as being the leading technology for responding to grid power demand from over and undersupply. Bitcoin mining farms can be switched on or off depending on power demand constraints.<\/p>\n

Additionally, BTC mining can be a solution for geographic curtailment. Power curtailment is a deliberate reduction in the output below what could be produced to balance energy supply and demand, or due to transmission constraints.<\/p>\n

There are also benefits in innovation and methane reduction, according to Batten\u2019s findings. <\/p>\n

BTC mining can be used to reduce vented landfill gas and flare gas emissions by using this otherwise wasted energy to power rigs.<\/p>\n

<\/p>\n

The handful of negatives included network emission levels, e-waste production, and the opening up of previous fossil fuel sites. However, the environmental positives far outweighed these negatives, according to Batten who opined:<\/p>\n

\u201cBitcoin mining\u2019s rapid renewable adoption can inspire other industry sectors to follow.\u201d<\/p><\/blockquote>\n

\u201cWe see Bitcoin mining can play a real part in global methane mitigation,\u201d he concluded.<\/p>\n

Related:<\/em><\/strong> <\/em><\/strong>Bitcoin could become a zero-emission network: Report<\/em><\/strong><\/p>\n

On Jan. 13, the SCMP opposed the notion that Bitcoin was good for the environment by reporting that BTC accounted for 86.3 million tons of carbon dioxide emissions in 2022.<\/p>\n

However, it did acknowledge that Ethereum saw its CO2 emissions drop from 21.95 million tons in 2021 to 8,824 tons last year, according to the data from Forex Suggest. The Ethereum Merge and switch to proof-of-stake last year reduced network power consumption by 99.98%.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A climate tech investor has painted a<\/p>\n","protected":false},"author":3,"featured_media":169526,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nClimate tech VC argues Bitcoin's ESG positives outweigh its negatives 31:1 - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/climate-tech-vc-argues-bitcoins-esg-positives-outweigh-its-negatives-311\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Climate tech VC argues Bitcoin's ESG positives outweigh its negatives 31:1 - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"A climate tech investor has painted a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/climate-tech-vc-argues-bitcoins-esg-positives-outweigh-its-negatives-311\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-13T07:26:30+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/01\/Climate-tech-VC-argues-Bitcoins-ESG-positives-outweigh-its-negatives-311.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/climate-tech-vc-argues-bitcoins-esg-positives-outweigh-its-negatives-311\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/climate-tech-vc-argues-bitcoins-esg-positives-outweigh-its-negatives-311\/\",\"name\":\"Climate tech VC argues Bitcoin's ESG positives outweigh its negatives 31:1 - 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