Just calculated:
Of known new hashrate coming into the network, 91.3% of it has been powered by sustainable energy.
Trend of 6.2%/yr increase in sustainable energy set to continue
The ERCOT grid will continue to be tested by extreme weather each summer and weather. Grid failure can still happen for other reasons than supply-demand management. For example if wind blades and gas pipes freeze and crack. After the blackouts of a couple of years ago they’ve done some pretty major weatherising of generation assets. Between that and the load balancing of bitcoin mining it’s more resilient now than 2 years ago. But not invincible.
Texas now has 28.5% of global hashrate
Exactly 60% of US mining power is now on the ERCOT (Texas) Grid :
Mining-wise, US has become what China was in Q1 2021.
New chart:
This chart says “bitcoin mining is the only major industry with negative scope1 emissions.
Reason: Bitcoin mining like eVs is fully electrified - so the only scope1 emissions are from using flared/vented methane aka emission negative sources.
New data on Bitcoin mining
Tl;dr version
1. 47.7% of mining now done in US
2. US net emissions from bitcoin are proportionately lower at 39.7% of global bitcoin emission
3. Cambridge model appears to overestimate Bitcoin electricity consumption
4. Bitcoin mining already is highly transparent
Detailed breakdown:
https://batcoinz.com/new-insights-on-bitcoin-mining-and-sustainability/
My wife was into bitcoin before I was - so I’m in with a chance
I was wondering about the noise. Ducting it a great idea.
My wife wants a fire, but I think an S9 resistance heater would be more romantic
Yes but your image needs updating.
Nothing says romantic and cozy like a nice S9 resistance heater.
So cool. We’re going to need a way to represent emissions reduced through displacing fossil fuel heating sources with electric heating sources.
My model doesn’t factor that in currently so will be under-representing emission abatement.
speaking at the conference in October. Let me know if you’re intending to go
Good distinction:
crypto = incremental improvements to the system
Bitcoin = disruption of the system
My BEEST model (Bitcoin energy and emissions sustainability tracker) tells me we just passed 53% sustainable energy-mix
It would seem you can no longer get away with publishing misinformation about Bitcoin.
If you try it, better informed people will
- take your article apart
- post your own editorial guidelines which you didn’t follow
- ratio you >6:1
There are some things happening under the radar that could change that quite quickly
Last year one of the investors into our climate tech said he was against bitcoin for environmental reasons.
I calmly asked him why he believed that. I heard him out and said “I can understand how you came to those conclusions. I have some spent time looking in this. Would you like to hear what I learnt?”
He said ok. So I addressed each of the three points he raised with evidence.
Ten minutes later he asked if our next fund would be a bitcoin mining fund.