Researchers Prove Bitcoin Mining Reduces Carbon Footprint
Date: 2023-08-07 Author: Karina Ziganova Categories: IN WORLD
This practice strengthens support for more projects with renewable energy sources in remote areas. In addition, the flexible computing load of bitcoin can also balance the electrical grid, reducing demand during peak periods.
KPMG researchers detail how bitcoin miners used a demand response system to help Texas during a winter storm in 2021: storm Uri, which occurred in Texas in February 2021, when the temperature dropped to -14 degrees, bitcoin miners Texas reduced energy consumption, as a result of which about 1,500 megawatts were returned to the grid.
Moreover, some miners convert the heat generated by specialized installations for BTC mining to heat houses, greenhouses and pools. This process converts excess heat into useful thermal energy, replacing more carbon-intensive heating fuels.
A number of companies, such as Crusoe Energu, use flared natural gas from oil fields to power modular bitcoin mining centers. This practice reduces emissions of the greenhouse gas methane. Other start-ups are transforming methane released from landfills into valuable electricity.
According to KPMG estimates, only flare gas emissions from oil production in the US and Canada can support the entire bitcoin network. Since landfills account for over 14% of U.S. methane emissions, using this waste gas to mine digital currencies could significantly reduce global coal epodny trace.
The KPMG report highlights that through proactive partnerships and innovation, bitcoin mining can make a significant contribution to achieving the goals of "Net Zero" or "Coal erodnogo neutrality".
