Monday 05 September 2022 ▪ 5:00 pm ▪
min read – with
To better prepare France against a possible energy shortage, the government wants to reduce gas and electricity consumption. Is this the price to pay for the sanctions imposed on Vladimir Putin because of the war between Russia and Ukraine? Until alternatives to Russian gas emerge, we draw attention to a recent report that highlighted the impacts of the gas mining of bitcoins on the energy industry and the environment.
Arcane research, towards the end of energy crises?
On September 2, Arcane released research results on energy use by bitcoin miners and its potential to transform the energy industry.
” NEW REPORT: How Bitcoin Mining Can Change the Energy Industry
Bitcoin miners are unique flexible energy consumers that can help solve some of our biggest energy problems.
Powered by @CowaMining
Learn more in our new report: ‘How Bitcoin Mining Can Change the Energy Industry’ “.
Often, the crypto sector gets very ” tough which, in the eyes of Arcane researchers, stems from a lack of understanding of bitcoin and energy systems. However, by changing your perspective, we can see things differently: mining BTCX can “ improve energy systems “.
Four points were raised on the occasion:
- to strengthen electrical networks thanks to the bitcoin mining ;
- the resulting improvement in the economics of renewable energy;
- mitigation of natural gas wastage;
- and reuse of waste heat associated with bitcoin mining.
Rethinking global energy production from bitcoin mining
In this report, Cointelegraph highlighted a thesis that dictates that the bitcoin mining could improve energy production worldwide.
Here is an excerpt from the text that supports this view: Most people consider bitcoin mining to be just another energy-intensive industry, but there is one major difference: bitcoin miners are particularly flexible about when and where energy is consumed. »
So far, the one-coiners does not see in the bitcoin mining only negative, not being able to forward definitive figures, however.
However, the sector only accounts for a small proportion of global energy consumption. Over a year, BTC miners only consume about 100 TWh per year, or 0.06% of total global energy demand.
To say that it takes more than double for the gold mining industry, 240 TWh, and much more for paper production.
It should also be mentioned that the mining of bitcoins that help reduce carbon emissions. Because the activists involved have the same desires to adopt non-flexible renewable energy, like all Earthlings who are concerned about the future of the planet.
In fact, some politicians like Pete Sessions, a representative from Texas, see bitcoin mining as a shortcut to energy independence for the United States.
Towards the end of April, we highlighted an unusual initiative from the city of Forth Worth, also in Texas. At that time, local politicians decided to install pro-bitcoin mining of BTC to create permanent bitcoin funds. To power these devices, the municipality chose to use abandoned or surplus energy sources in order to convert them into resources in the flow of the sagas.
Coming back to the numbers, it should be noted that the bitcoin mining industry consumes less energy than the video game industry. However, Arcane Research pointed out, in its report, “ for an investment of $1,000, CO² emissions are reduced by 6.32 tons per year through a bitcoin mining system. “. This is to say that the bitcoin and cryptocurrency industry is not as corrupt as other sectors. The IS believers planning for a better future without having to end their mining practice.
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The blockchain and crypto revolution is underway! And the day the effects are felt on the most fragile economy in this world, against all hope, I will say that I was involved.