There is a general perception in the world that Bitcoin uses too much energy and is bad for the environment. But what if you found out it’s actually good for the environment while getting better each year?
This Twitter thread by “Documenting Bitcoin” shows endless examples of how Bitcoin uses sustainable energy. We summarized the highlights in this article.
A lot of bad rap on cryptocurrency mining
Many people claim crypto mining uses huge amounts of power and they are right. But they also say it is bad for the environment, which may not be entirely true. The increased demand for electricity for Bitcoin mining has allegedly led to enormous carbon emissions, emitting 200 million tonnes of C02 since its creation.
Related article: Why is mining the safest entry into the crypto world?
However, there are numerous examples of how Bitcoin is mined through sustainable and renewable energy. This trend is expected to continue, which could lead to decreased emissions of C02.
Malawi mines Bitcoin through hydropower
For instance, Bitcoin mining in Malawi utilizes clean and excess hydro energy, connecting 1,600 families to the grid. The project runs on environmentally friendly hydropower, which leaves a tiny environmental footprint compared to traditional mining.
1600 families connected to this remote hydro minigrid in the mountains of southern Malawi. They have 50kW of stranded energy that we are testing out as a new Bitcoin mining site.
Videos for context.
Still working on venting, wiring, etc. pic.twitter.com/Sxf8ABGPWH
— Gridless (@GridlessCompute) January 21, 2023
This is just one of many examples of how green energy is used to mine Bitcoin, empowering developing countries globally. The independence of the fluctuation of Bitcoin’s price is what will help these environmentally friendly projects survive and avoid potential bankruptcy.
Lebanon’s economy boosted thanks to Bitcoin
Lebanon is in big trouble as its local currency lost most of its value. Minimum wages tumbled and pensions became worthless. This is what massive inflation can do to developing countries. Frightening. People were forced to look for other options, which led to increased criminal activities, but also the adoption of crypto.
Lebanon's banking system is fundamentally broken after decades of mismanagement. Now, some are turning to crypto to make ends meet. @KenzieSigalos has a look at Lebanon's crypto economy. https://t.co/g9DhP2fafc pic.twitter.com/ZqHMLs2dVr
— CNBC (@CNBC) November 7, 2022
Lebanon’s inhabitants want to get paid in cryptocurrencies like Bitcoin or Litecoin (LTC) and spend in Tether (USDT). But most importantly, they learned to mine crypto through hydropower or solar power. In the end, it’s necessary to look for opportunities outside of the country when the government fails to run the economy.
Virunga National Park saved with Bitcoin
Virunga is the oldest national park in Congo, which was forced to close during the pandemic. Tourism was hurt, and they must have looked for new options. The answer is Bitcoin. Virunga is the first national park to operate a Bitcoin mine as part of an effort to preserve the area’s forests and world-famous fauna.
Also read: Ukraine wants to become the leading jurisdiction for digital assets
It’s a piece of a bigger plan to put Virunga’s valuable resources to use for the park and the inhabitants, including the land and the hydropower. This mine’s operations may seem controversial, but they’re also profitable and environmentally friendly. Employee salaries and park improvements like new roads and water pumping stations are already being funded in part by Bitcoin sales.
Volcano-powered Bitcoin mining?
El Salvador is known for being a pro-Bitcoin country. It is actually buying Bitcoin regularly, worth millions. But it doesn’t stop there. The country’s Tecapa volcano reportedly creates more energy than they can spend, which brought the idea for green Bitcoin mining, powered by a volcano.
The law is ready. It just needs to be signed by @nayibbukele#Bitcoin Volcano Bonds are coming… pic.twitter.com/6qkYZldvjc
— Alistair Milne (@alistairmilne) January 11, 2023
Mining Bitcoin with the extra energy can help decrease the costs rapidly, and bring more profits. El Salvador is also planning on launching “Volcano Bonds,” which would support this energy-efficient project. How cool is that?
Bitcoin mining warms rooms and water
There are endless examples of how Bitcoin mining can be utilized. This person uses mining operations to heat a 40-room hotel and water. The use cases of crypto mining are tremendous, and these are just a few. If you think Bitcoin is a scam, think again.
"One CryptoBoiler room finished! I'm saving to get 3 more enclosures 😉 This set heats a 40-room hotel, my offices and workshop. My employees are happy: we have hot water & warm rooms, but they don't have to stoke up the boiler ;)" #heatreuse #immersioncooling #liquidimmersion pic.twitter.com/afiKidBdeE
— DCX Immersion Mining (@DCX_Immersion) October 8, 2022
Crypto mining started simply on laptops and computers. With the increased hash rate and difficulty of mining, it became impossible for regular PCs to mine anymore. This led to a boom in the creation of huge facilities that mined Bitcoin for profits.
However, the trend is shifting toward a more efficient and smart way to mine. People are learning to fund their mining operations eco-friendly or through the power that has no use. If the trend were to continue, it could help millions of people all around the world, fuelling a better future.
Post has no comment yet.