Altcoins Talks - Cryptocurrency Forum

Further Discussions => Legality & Taxation of Cryptos => Topic started by: sirty143 on January 24, 2024, 02:20:04 PM

Title: Report: Bitcoin Mining Sustainable Energy Usage Reaches 54.5%
Post by: sirty143 on January 24, 2024, 02:20:04 PM

Report: Bitcoin Mining Sustainable Energy Usage Reaches 54.5%

(https://i.imgur.com/I8CO0Tsm.jpg)

Daniel Batten, co-founder of CH4 Capital, reported that bitcoin mining has reached all-time high levels of sustainable energy usage and emissions mitigation. According to Batten, 54.5% of the energy used for this activity is sustainable... See more for yourself here (https://news.bitcoin.com/report-bitcoin-mining-sustainable-energy-usage-reaches-54-5/).

Your opinion is greatly appreciated.

Title: Re: Report: Bitcoin Mining Sustainable Energy Usage Reaches 54.5%
Post by: Yamane_Keto on January 26, 2024, 02:32:44 AM

In the article, he points out that the reason for Bitcoin becoming sustainable energy is that the miners were selected from China, but without examining the mining farms, it is difficult to confirm the accuracy of these numbers, which is something that did not happen in Batten’s research methodology.
The percentage of miners using methane emissions is not large.

Title: Re: Report: Bitcoin Mining Sustainable Energy Usage Reaches 54.5%
Post by: joniboini on January 26, 2024, 10:18:44 AM

Yeah, their research lacked transparency imo[1]. They just mentioned that some miners move to North America and use greener energy, but no data is included besides some graphs. They mentioned some anonymous sources, but verifying and trusting them is hard. Things might be different if their research business has a credible reputation. On the other hand, I think they realize that their data is insufficient hence why they encourage the community to publish or do their own research so that they no longer rely on the old Cambridge miners' data[2].

[1] https://www.batcoinz.com/p/issue-003-one-red-three-green

Title: Re: Report: Bitcoin Mining Sustainable Energy Usage Reaches 54.5%
Post by: Yamane_Keto on January 29, 2024, 05:02:10 AM

Quote from: joniboini on January 26, 2024, 10:18:44 AM

Yeah, their research lacked transparency imo[1]. They just mentioned that some miners move to North America and use greener energy, but no data is included besides some graphs.

These researches are carried out by people specialized in data science, but they most likely have no knowledge of mining, so the results may not be accurate.

(https://talkimg.com/images/2024/01/29/kLbEI.png)
It is possible to easily identify more than 50% of the hashrate, determine which country it belongs to, and then generalize that to unknown hashrate places, clarifying that and the error criterion.