In a recent With the help of four distinctive charts, Batten highlighted the sustainability of bitcoin compared to other major industries. “Four charts, four tweets, four reasons why bitcoin is the ultimate ESG asset,” Batten said.
Renewable Energy Mastery: Batten began by emphasizing how btc mining has risen to become the “most sustainably driven global industry in the world.” The data reveals that a significant 52.6% of btc‘s energy comes from renewable sources. On the contrary, the banking sector lags behind with 39.2%, the industrial sector with 32.0%, agriculture with 19.2%, the gold industry with 12.8% and the steel industry with just 9.8%.
Consistent emissions levels amid growth: The second chart highlights btc‘s unique ability to maintain its emissions despite rampant growth metrics. Over the past four years, the network’s hash rate has increased by 475%. At the same time, its price increased by 163% and the total number of users grew by 289%. However, its emissions decreased by -9.4%. Batten noted: “Something no other industry has ever achieved.”
Lowest issuance intensity: According to Batten’s third chart, “bitcoin has halved its issuance intensity in four years to have the lowest issuance intensity of any major global industry.” The data corroborates this: bitcoin‘s emissions intensity stands at 299 g/KWh, notably lower than that of industries such as steel (856 g/KWh), agriculture (725 g/KWh), gold (679 g /KWh), industrial (502 g/KWh), and banking (464 g/KWh).
Emissions intensity between industries | Source: X @DSBatten
Decentralized energy source: The final chart clarifies the diversified energy composition of btc, with hydropower leading the way at 23.6%. bitcoin‘s decentralized nature means that, unlike other industries, it is not anchored to the 36.7% coal-powered global grid. “Because bitcoin mining is not anchored to the 36.7% coal-powered global grid, it is also the only major industry where fossil fuels are not the primary energy source,” Batten stated.
<img decoding="async" loading="lazy" class="size-full wp-image-256824" src="https://technicalterrence.com/wp-content/uploads/2023/09/Bitcoin-is-the-definitive-ESG-asset-validates-an-expert.png" alt="bitcoin‘s main energy sources” width=”740″ height=”652″ srcset=”https://technicalterrence.com/wp-content/uploads/2023/09/Bitcoin-is-the-definitive-ESG-asset-validates-an-expert.png 740w, https://bitcoinist.com/wp-content/uploads/2023/09/Bitcoins-major-energy-sources-477×420.png 477w” sizes=”(max-width: 740px) 100vw, 740px”/>bitcoin‘s main energy sources | Source: X @DSBatten
False information continues to circulate
Importantly, it is essential to continue fostering a deeper understanding of bitcoin. Recent campaigns, including Ripple-backed Greenpeace’s “Switch the Code,” have propagated potentially misleading narratives. At the same time, the accuracy of their data and the underlying motivations of high-level academic and research institutions must be closely examined. While the recent MIT study on bitcoin mining, published in June, is a commendable effort, it is not without its shortcomings.
Recently, Batten offered insight into a recent MIT study on mining. He acknowledged the study’s strengths, such as its avoidance of outdated methods of energy projection and his genuine interest in conducting objective research. However, Batten expressed concern about certain inconsistencies, including a lack of up-to-date data and non-representative data sets, and emphasized the need for more comprehensive and accurate research models.
He stated: “The paper shows potential, but it also has many gaps and we do not need another incomplete and non-representative mining model.” Batten recommended that researchers engage directly with key industry stakeholders to gain a more complete understanding of the nuances.
At the time of publication, btc was trading at $26,102.
