Bitcoin

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 The report highlighted that Bitcoin mining can convert wasted methane emissions into less harmful emissions. 
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 A paper published by the Institute of Risk Management (IRM) concluded that Bitcoin (BTC) has the potential to be a catalyst for a <a rel="noopener noreferrer nofollow" title="global" href="https://thebittimes.com/tag/global.html">global</a> energy transition.&nbsp; 
 IRM Energy and Renewables Group members Dylan Campbell and Alexander Larsen published a report titled “Bitcoin and the Energy Transition: From Risk to Opportunity.” The paper argued that while BTC was perceived as a risk because of its energy consumption, it can also catalyze energy transition and lead to new solutions for energy challenges worldwide. 
 Within the report, the authors also highlighted the important function of energy and the increasing need for reliable, clean and more affordable energy sources. Despite the criticisms of Bitcoin’s energy intensity, the study provided a more balanced view of Bitcoin by showing the potential benefits BTC can bring to the energy industry. 
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 <img src="https://cdn.thebittimes.com/images/2023/09/22/58ffcae4cd75898a8a9cf0b74205536f.webp"> 
 <figcaption style="text-align: center;"> Amount of vented methane that can be used in Bitcoin mining. Source: IRM 
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 According to the report, Bitcoin <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> can <a rel="noopener noreferrer nofollow" title="reduce" href="https://thebittimes.com/tag/reduce.html">reduce</a> <a rel="noopener noreferrer nofollow" title="global" href="https://thebittimes.com/tag/global.html">global</a> <a rel="noopener noreferrer nofollow" title="emissions" href="https://thebittimes.com/tag/emissions.html">emissions</a> by up to 8% by 2030. This can be done by converting the world’s wasted methane <a rel="noopener noreferrer nofollow" title="emissions" href="https://thebittimes.com/tag/emissions.html">emissions</a> into less harmful <a rel="noopener noreferrer nofollow" title="emissions" href="https://thebittimes.com/tag/emissions.html">emissions</a>. The report cited a theoretical case saying that using captured methane to power Bitcoin <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> operations can <a rel="noopener noreferrer nofollow" title="reduce" href="https://thebittimes.com/tag/reduce.html">reduce</a> the amount of methane vented into the atmosphere.&nbsp; 
 Related: Bitcoin energy pivot achieves what ‘few industries can claim’ — Bloomberg analyst 
 The paper also presented other opportunities for Bitcoin to contribute to the energy sector. According to the report, Bitcoin can contribute to energy efficiency through electricity grid management by using Bitcoin miners and transferring heat from miners to greenhouses. 
 “We have shown that while Bitcoin is a consumer of electricity, this does not translate to it being a high emitter of carbon dioxide and other atmospheric pollutants. Bitcoin can be the catalyst to a cleaner, more energy-abundant future for all,” the authors wrote. 
 Magazine: How to protect your crypto in a volatile market: Bitcoin OGs and experts weigh in 
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-mining-can-help-reduce-up-to-8-of-global-emissions-report-tbt63659.html">https://thebittimes.com/bitcoin-mining-can-help-reduce-up-to-8-of-global-emissions-report-tbt63659.html</a>

Bitcoin mining can help reduce up to 8% of global emissions: Report

TheBitTimes

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