There is something strange happening to our planet. The weather seems to be changing. Storms are getting stronger and the ice caps are slowly melting. Heat waves are getting worse, which results in health issues and causing damaging forest fires. Scientists are saying that this climate crisis is caused by burning fossil fuels, such as coal. Our never-ending need for more energy releases heat-trapping greenhouse gases into the atmosphere, contributing to climate change. However, there is still something we can do to reverse this problem. Believe it or not, Bitcoin is one of the answers we are looking for.
Bitcoin is already getting a big majority of its energy from renewables. However, the number one crypto asset still has a lot to offer.
Methane’s Impact on Global Warming
According to scientists we have until 2030 to reduce our greenhouse gas emissions. We need to reduce it by 45% or risk having a runaway global warming. Solutions are focused on reducing our CO2 gas emissions, however, we neglect to look at the bigger picture.
Methane is actually a bigger culprit in warming up our planet. According to Daniel Batten, a climate tech investor and Bitcoin environmental impact analyst, methane is 84 times more warming than carbon dioxide over a 20-year period. However, most of the money spent to combat climate change is geared toward containing carbon emissions.
He also said that landfills are a major source of Methane.
How Can Bitcoin Help?
We have to remember that Bitcoin uses Proof-of-Work (PoW). Miner uses special computers or mining rigs to validate transactions and protect the network. These miners receive Bitcoins as payment for their work.
Mining rigs use up a lot of electricity. The power they consume can rival the usage of some countries like Argentina or the United Arab Emirates.
According to Batten, landfills can also function as a viable energy source. However, the process of purifying the methane and generating electricity involves a lot of investment. A lot of upgrades need to be done before the grid can take the energy produced and this is not profitable. Local regulations may also prevent this from happening.
But Bitcoin can solve this. Miners can be onsite customers. Instead of upgrading the grid and dealing with regulations, landfills can simply accommodate Bitcoin rigs. This is a simple yet plausible solution. Investors will earn money and save the planet at the same time. According to Batten’s calculation, this setup is up to 45 times more emission-reducing than solar power.
Use Bitcoin for the Planet
Now let us summarize what we know.
- Bitcoin is a huge power consumer
- However, half of the power is from renewables. We have several articles on this topic.
- Methane is a big contributor to global warming and is more potent than carbon dioxide.
- Landfills are a major producer of methane gas.
- Economic viability is an obstacle to getting power from landfills.
- Bitcoin can become onsite customers of landfill power generators.
It does not take a genius to realize that a viable solution to climate change is already here. It will revolutionize how landfills are managed and provide energy to the future of money. This proves that Bitcoin is the greenest form of money. Who knew that holding is tantamount to saving our planet?
The information presented in this article is for informational purposes only and should not be construed as financial advice. This article does not constitute an offer to buy or sell any financial instruments, or a solicitation to engage in any investment activity. Investing involves risk, and you could lose money. You should consult with a qualified financial professional before making any investment decisions.
