{"id":18510,"date":"2023-03-09T16:21:09","date_gmt":"2023-03-09T16:21:09","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/esg-analyst-daniel-batten-reveals-dynamic-charts-showing-bitcoins-52-6-sustainable-energy-use-bitcoin-news\/"},"modified":"2023-03-09T16:21:09","modified_gmt":"2023-03-09T16:21:09","slug":"esg-analyst-daniel-batten-reveals-dynamic-charts-showing-bitcoins-52-6-sustainable-energy-use-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/esg-analyst-daniel-batten-reveals-dynamic-charts-showing-bitcoins-52-6-sustainable-energy-use-bitcoin-news\/","title":{"rendered":"ESG Analyst Daniel Batten Reveals Dynamic Charts Showing Bitcoin\u2019s 52.6% Sustainable Energy Use \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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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\u2019s progress.<\/strong><\/p>\n

Contrary to Cambridge University Data, Analyst Says Bitcoin Mining Uses 52.6% Sustainable Energy<\/h2>\n

These days, there is significant debate regarding the environmental impact of Bitcoin mining. On March 7, 2023, ESG analyst Daniel Batten<\/a> tweeted about new ESG charts he helped design with Willy Woo<\/a> that show Bitcoin\u2019s progress toward using 52.6% sustainable energy. They also highlight total emissions, emissions per dollar, and emissions intensity.<\/p>\n

\"ESG
The Bitcoin Mining Sustainability chart shared by ESG analyst Daniel Batten on March 7, 2023.<\/figcaption><\/figure>\n

Batten shared<\/a> a sneak preview of the charts and noted that the data will update dynamically. The analyst also said<\/a> that information about the methodology and the charts will be released soon. ESG analyst Daniel Batten\u2019s Dynamic Bitcoin ESG Charts have been revealed at a time when a number of U.S. politicians, including<\/a> Democratic Senator Elizabeth Warren of Massachusetts, are expressing concerns about bitcoin mining operations.<\/p>\n

Senators Ed Markey (D-MA), Jeff Merkley (D-OR), and Jared Huffman (D-CA) have introduced<\/a> a bill that would mandate \u201can interagency study on the environmental and energy impacts of crypto asset mining.\u201d However, politicians and media publications have been accused<\/a> of using questionable methodology and data<\/a> to evaluate Bitcoin\u2019s environmental impact.<\/p>\n

For example, the Digieconomist blog, which is run by Alex de Vries, an employee of the Dutch Central Bank, has been called<\/a> a \u201cconflict of interest\u201d due to his affiliation with the bank. Nevertheless, several environmental activists and politicians cite de Vries\u2019 work. Batten\u2019s preview of the chart is not just a flashy display, as the ESG analyst explained his findings and methodology in a recent editorial<\/a> published on Feb. 19, 2023.<\/p>\n

In the article, he discusses the Bitcoin Mining Council report<\/a> and a study<\/a> by Cambridge University. Data from the Cambridge Centre for Alternative Finance (CCAF) is regularly cited by politicians and the press when it comes to Bitcoin and environmental concerns. Batten\u2019s findings in the article indicate that 52.6% of energy used for Bitcoin mining is sustainable. The ESG analyst also outlines his methodology<\/a> on his website and discusses limitations in the CCAF model.<\/p>\n

\"ESG<\/p>\n

According to Batten\u2019s study, the researcher\u2019s \u201coverall zero-emission energy figure is 7.2% lower than the BMC data,\u201d however, \u201cit is significantly higher than the CCAF report from September 2022.\u201d Furthermore, Batten was able to \u201calmost precisely replicate\u201d the CCAF methodology that resulted in 37% sustainable energy and then factor in the limitations of the CCAF report to obtain the true number.<\/p>\n

Batten maintains that his model is more realistic until the CCAF takes into account off-grid and flare gas mining<\/a>. \u201cBetween September 2022 and June 2023, we anticipate the Bitcoin network to operate on +4.5% more zero-emission power sources,\u201d the report stated. Additionally, the report noted that some critics have claimed that Bitcoin relies on grids that are predominantly powered by coal, but Batten\u2019s and CCAF\u2019s data does not support the coal hypothesis.<\/p>\n

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Alex de Vries<\/a>, Bitcoin<\/a>, Bitcoin Mining Council<\/a>, Blockchain<\/a>, BTC<\/a>, Cambridge University<\/a>, Carbon Emissions<\/a>, carbon footprint<\/a>, CCAF<\/a>, climate change<\/a>, Coal<\/a>, Cryptocurrency<\/a>, Daniel Batten<\/a>, data<\/a>, Democratic Senators<\/a>, Digital Currency<\/a>, Ed Markey<\/a>, Elizabeth Warren<\/a>, Energy Consumption<\/a>, environmental concerns<\/a>, environmental impact<\/a>, esg<\/a>, flare gas mining<\/a>, global warming<\/a>, GREEN Energy<\/a>, Innovation<\/a>, Jared Huffman<\/a>, Jeff Merkley<\/a>, Legislation<\/a>, methodology<\/a>, Mining Operations<\/a>, off-grid<\/a>, Renewable Energy<\/a>, renewable power<\/a>, renewable sources<\/a>, sustainability<\/a>, sustainable energy<\/a>, technology<\/a>, Willy Woo<\/a><\/div>\n<\/div>\n

Do you believe that the use of sustainable energy sources for bitcoin mining will continue to increase in the coming years? Share your thoughts in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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