Bitcoin Mining: Reducing Methane Emissions by 2030

Could Bitcoin mining reduce methane emissions? Danial Batten, a leading ESG analyst, argues that mining could reduce methane emissions by 8.5% until 2030.

Research shows that methane is fundamentally more harmful than carbon dioxide (CO2), having an 80% greater impact than CO2 when it is in the atmosphere for 20 years.

Danial Batten Proposes a Methane-Based Alternative for Bitcoin Mining

Danial Batten, a renowned ESG analyst and investor in Bitcoin, argues that mining could reduce the concentration of methane in the air.

According to Batten, removing a tonne of methane from the atmosphere is much easier than removing CO2. He therefore proposes converting the methane into CO2 and using it to power Bitcoin mining systems.

Danial outlined the full steps in a thread posted on X (formerly Twitter). He stated:

"You have to detect methane leaks and burn it cleanly to generate electricity. That way, you get a +80 score for methane removal, but a -1 penalty for residual CO2, so it's still 79 times more effective than removing CO2 from the atmosphere."

Methane is a by-product from agricultural landfills, particularly cattle waste. It is also produced from cars and oil and gas fields. However, once burnt, methane generates products that do not contribute to global warming.

Bitcoin miners have begun to experiment with the use of trapped gas (gas vented by the oil industry) to power mining machines. Normally, these gases are burnt and dispersed, but Batten suggests that miners could harness them to help fight climate change.

"If Bitcoin miners were used in oil fields and landfills around the world, global emissions would be reduced by 8.5 per cent: 1.5 per cent for oil fields and 7 per cent for landfills," said Batten.

Scientists Accuse Bitcoin Mining of Fueling Global Warming

Researchers and scientists attribute climate change to greenhouse gases such as CO2. Now, Bitcoin mining has also entered the debate, with some academics claiming that the Bitcoin creation process is contributing to global warming.

Mining is said to require huge amounts of electricity, often produced from fossil fuels such as coal. According to Fairplanet, mining a single Bitcoin requires approximately 2,100 KWh of electricity, the equivalent of a US household's energy consumption for 75 days.

In 2018, researcher Dr. Katrina M. Kelly-Pitou, from the Department of Electrical and Computer Engineering at the University of Pittsburgh, published an article titled "Stop worrying about how much energy Bitcoin uses". In it, he addressed the energy impact of mining, stating:

"Bitcoin mining consumed 30 terawatt-hours in 2017. That's a lot, but not excessive. The banking sector consumes about 100 terawatt-hours per year. If Bitcoin technology were to grow to 100 times its current market, it would only account for 2% of global energy consumption."

Danial Batten, however, warns that reducing methane emissions is not an ultimate solution for Bitcoin:

"We need to reduce both methane and CO2. Methane is more lethal, but CO2 is much more widespread. Reducing emissions of both by 50 per cent is critical."

Crypto analyst Willy Woo supported Batten's statement, saying that there is a need to review studies that portray Bitcoin mining as harmful to the environment.

Willy wrote in X:

"If you think Bitcoin harms the environment, look into it. It is the best technology we have to accelerate the adoption of renewable energy."