A prominent climate tech investor, Daniel Batten, has recently expressed a highly optimistic view of the Bitcoin (BTC) network, highlighting its numerous environmental benefits.
According to Batten, the positive impacts of BTC on the environment far outweigh its harmful effects, with the ratio standing at an impressive 31:1.
Yesterday, Batten, a self-proclaimed philanthropist, and environmentalist, took to Twitter to express his firm belief that Bitcoin is one of the most essential Environmental, Social, and Governance (ESG) technologies of our time.
Batten determined the 31:1 positive impact ratio through extensive research involving in-depth interviews with a diverse group of experts.
These experts included grid engineers who specialize in designing and operating electric power systems, climate scientists who study the Earth’s climate and the factors that affect it, and BTC mining engineers who are knowledgeable about the technical aspects of bitcoin mining.
The experts have a wide range of knowledge and experience in their respective fields and were able to provide valuable insights into the research conducted by Batten.
Batten’s research revealed that there are many ways in which Bitcoin could have a positive impact on the environment. The study identified a total of 21 different ways in which Bitcoin could be beneficial for the environment and only five ways in which it could be harmful.
According to the researcher, integrating renewable energy sources into the grid has yielded numerous benefits, particularly in mining. One of the critical advantages of utilizing renewable energy sources in mining operations is the ability to respond to fluctuations in power demand.
For example, Bitcoin mining farms can be easily adjusted based on the current demand constraints of the grid. This means that when there is an oversupply of power on the grid, mining farms can increase their output, and when there is an undersupply, they can decrease their production or even shut off entirely.
The ability to dynamically adjust energy usage based on demand is a significant advantage of utilizing renewable energy sources in mining, as it can significantly increase the efficiency and sustainability of the mining industry.
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