Bitcoin Mining Now Uses 52.6% Sustainable Energy, Says ESG Analyst
• ESG analyst Daniel Batten and onchain analyst Willy Woo have created Dynamic Bitcoin ESG Charts to showcase the protocol’s progress in using sustainable energy.
• The charts show that 52.6% of Bitcoin mining is powered by renewable energy sources, contrary to the Cambridge University Data.
• Batten discussed his findings and methodology in an editorial published on February 19, 2023.
ESG Analyst Reveals Dynamic Charts Showing Bitcoin’s Sustainable Energy Use
Environmental, social, and governance (ESG) analyst Daniel Batten said Tuesday that the computational backbone of the Bitcoin network now uses 52.6% sustainable energy. Batten and onchain analyst Willy Woo created Dynamic Bitcoin ESG Charts to showcase the protocol’s progress toward using renewable energy sources for powering its operations.
Bitcoin Mining Council Report & Cambridge University Study
Data from the Cambridge Centre for Alternative Finance (CCAF) is regularly cited by politicians and the press when it comes to estimating Bitcoin’s environmental impact. Contrary to CCAF’s data, ESG analyst Daniel Batten found that 52.6% of energy used for Bitcoin mining is sustainable in his recent editorial published on Feb. 19, 2023.
Controversy Around Politicians Expressing Concerns About Bitcoin Mining Operations
These days, there is significant debate regarding the environmental impact of Bitcoin mining operations with a number of U.S. politicians expressing their concerns about it – including Democratic Senator Elizabeth Warren of Massachusetts – Senators Ed Markey (D-MA), Jeff Merkley (D-OR), and Jared Huffman (D-CA). However, politicians and media publications have been accused of using questionable methodology and data to evaluate this matter as Alex de Vries‘ Digieconomist blog has been called a „conflict of interest“ due to his affiliation with Dutch Central Bank while environmentalists activists are citing his work at same time too.
Dynamic Charts Update Automatically Showing Total Emissions & Intensity
ESG analyst Daniel Batten shared a sneak preview of these charts which will update dynamically showing total emissions, emissions per dollar spent and emissions intensity as well as percentage of sustainability used in bitcoin mining operations at any given time period too!
In conclusion, there is still much debate regarding the environmental impacts associated with bitcoin mining but ESG analyst Daniel Batten’s dynamic charts help us understand how much power is being consumed by these networks based on renewable sources at any given time period!