Does Bitcoin mining help or hurt the environment? Blockchain experts sought an answer to that question in a newly released, first-of-its-kind academic paper on the matter. Their conclusion: It could help, with some key changes.

“Our findings show that renewable-based mining could potentially drive a net-decarbonizing effect on energy grids, although key adaptations in mining practices are needed to fully realize this potential,” reads the abstract of the paper, written by blockchain researchers Juan Ignacio Ibanez and Dr. Alexander Freier.

Published earlier this week, their analysis examined the realities of the mining industry’s carbon footprint and its potential to expand renewable energy capacity, providing a “balanced” perspective between both sides of the Bitcoin environmental debate. After just two days, the paper has amassed more views than 95% of the 24 million papers ever published on Altmetric.

The analysis states that a series of “unique characteristics” set miners apart from other energy buyers, helping provide “additional income and ancillary services” to renewable energy grids. Some of these characteristics include flexibility of load, interruptibility, portability, and waste heat utilization.

For example, miners can help absorb excess power generated by wind and solar facilities, helping those f

Go to Source to See Full Article
Author: Andrew Throuvalas

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details