Making Bitcoin Carbon Negative with Daniel Batten - WBD714

Daniel Batten is an author, analyst, environmental campaigner and
investor in ClimateTech. In this interview, we discuss the
challenges of convincing people about climate change, the
importance of trust in government, and the potential positive
impact of Bitcoin mining on the environment. We also talk about
Daniel’s focus on accelerating Bitcoin mining’s use in reducing
global landfill methane emissions.


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Bitcoin mining requires powerful computer hardware and consumes a
considerable amount of electricity. In some locations, this
energy is primarily sourced from fossil fuels. Critics claim that
this leads to excessive carbon emissions and contributes to
climate change. This is obviously a simplistic and false
narrative; the true situation may at first seem counterintuitive,
but Bitcoin is actually a powerful tool in the fight against
climate change.


Bitcoin mining incentivizes the use of renewable energy sources.
Miners often seek areas with abundant cheap electricity, which
lends itself to seeking out renewable sources of energy. This
results in mining subsidising the build-out of renewable energy
sources, which in turn facilitates the development of reliable
and sustainable energy grids.


But, perhaps the most exciting application of Bitcoin mining is
in the use of waste methane. Around 30% of the rise in global
temperatures is estimated to be due to methane emissions, and
methane has 80 times more warming power than carbon dioxide in
the atmosphere. Further, 11% of global methane emissions come
from landfill sites. The World Bank estimates that landfill
emissions will grow 70% by 2050.


As we heard in our podcast last year with Vespene Energy’s Adam
Wright, waste methane is an amazing energy source for Bitcoin
mining. The waste output is carbon dioxide, which is 80 times
less potent than the methane input. Daniel Batten is seeking to
accelerate the build-out of such technology. The aim is to
generate 32 megawatts of power from landfills, offsetting the
equivalent of 4 million tonnes of carbon dioxide. That’s 10% of
Bitcoin’s carbon footprint!


In this podcast, Daniel explains the opportunities and challenges
behind scaling up Bitcoin mining’s carbon-offsetting potential.
The fund he co-founded, CH4 Capital, has a mission to offset 2%
of global greenhouse emissions with a $500 million investment.
The exciting thing for Bitcoiners is that using methane emissions
from landfills is obviously just one of a number of sustainable
applications. It’s just a matter of time before Greenpeace gets
orange-pilled!


Show notes:
https://www.whatbitcoindid.com/podcast/making-bitcoin-carbon-negative


This episode’s sponsors:
Iris Energy - Bitcoin Mining. Done Sustainably
Bitcasino - The Future of Gaming is here
Ledger - State of the art Bitcoin hardware wallet
Wasabi Wallet - Privacy by default
Unchained - Secure your bitcoin with confidence
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