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Bitcoin Mining could Reduce Methane Emission by up to 8.5% by 2030, is it a Bliss for Environment now?


ESG analyst and Crypto Investor Daniel Batten says Bitcoin Mining could reduce methane emission by 8.5% by 2030 using a thread on Twitter.

“Methane is a powerful greenhouses gas with a 100-year global warming potential 28-34 times that of CO2. Measured over a 20-year period, that ratio grows to 84-86 times.” – UNECE

Brief Overview of Green House Gases

Gases that traps Heat in the atmosphere are called Green house gases, and the process of absorbing and re-emitting infrared energy from the atmosphere back to the Earth’s surface is know as Green House Effect.

Do you know, in the absence of green house gases the temperature on the surface of earth would be 33 °C lesser, could you image this? Please comment your thoughts over this…

Bitcoin Mining could Reduce Methane Emission
Figure 1: Green House gases Constitution
Image Courtesy: NRDC

Major Green House gases are

  • Carbon Dioxide (CO2)
  • Methane (CH4)
  • Nitrous Oxide (N2O)
  • Fluorinated Gases

Since among all these the most powerful gas is Methane which has approximately 80 times more potential of contributing to global warming over first 20 years in the atmosphere.

Converting Methane (CH4) into Carbon Dioxide (CO2)

Daniel Batten says that Bitcoin mining could reduce methane emission actually according to him the a significant amount of methane can be reduced from the atmosphere.

His argument is removing 1 ton of methane is more effective than removing 1 ton of carbon dioxide. As the potential of causing harm of methane is 30 times more than that of Carbon Dioxide.

Batten plans to convert Methane into Carbon Dioxide and use that to power Bitcoin mining. This can be done by finding the leaking methane and cleanly burning it to generate electricity.

Bitcoin Mining could Reduce Methane Emission
Figure 2: Graph showing Relative effect of Co2 vs CH4 removal from environment
Image courtesy : Daniel Batten Tweet

From the above figure 2, it is clear that removing 1 Ton of Methane is 79x more effective than removing 1 Ton of Carbon Dioxide.

Major sources of Methane are Agriculture and apart form this the biggest source of methane emission from human activity are Oil and Gas industry and Landfills

Issues of Extracting Methane for Converting it to Carbon dioxide

To get this natural gas from Agricultural field, Landfills and from Oil and Gas Industries to the users will require pipeline connection which will take approximately 3-4 years and around $3.8M/mile which is insanely huge and according to IPCC, “unless we start now, we won’t hit our 2030 goals.”

Now its a real problem right, but what if I tell you, there is a community of people who is ready to use this power source and doesn’t require long pipeline connections and on the top of that they are also willing to Pay for it. Isn’t it supercool.

They are the Bitcoin Miners, and they can be our saviors when it comes to dealing with leaked Methane from both Oil and gas industries and Landfills and they will help in achieving the 2030 goal and hence bitcoin mining could reduce Methane Emission.

This is not Theory anymore, EZ Blockware is a company who provides hardware solutions for crypto mining, shows its intent to mine with Landfill gas.

An article published by Fortune.com “ExxonMobil is running a pilot project where it sells industrial gas leaks as energy for Bitcoin farms.”

Together, if Bitcoin miners were used throughout the world’s oilfields & landfills, they’d reduce our global emissions by a huge 8.5%. 1.5% for oil fields. 7% for landfills. Or say it as Bitcoin Mining could Reduce Methane Emission by up to 8.5% by 2030.

You may like to read : How Bitgert is beating Ethereum because of its less power consumption and faster transaction speed

Conclusion

Just burning Methane will not solve the issue and we can not sit back and relax. Yes its true that we are handling the most dangerous gas but we can not ignore Carbon Dioxide, Nitrous Oxide and other Fluorinated Gases. Specially the Carbon dioxide as its contribution towards the damage is what we can not ignore simply.

In-fact, we have to work side by side with Methane and Carbon dioxide. If you think Methane is more lethal then carbon dioxide is more prevalent in the environment.

We are all in this together and it is already showing its effect. Bitcoin Mining could Reduce Methane Emission is true and hopefully it will help significantly.


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