Greenhouse emissions caused by Bitcoin mining is one of the most common criticisms of the industry. However, a new solution that has the potential to address the negative mainstream narrative seems to be emerging.
, or CO2, production. The report found that the network emitted 42 megatons of CO2 in 2021 out of the world’s total emissions of 49,360 Mts of CO2.
In November 2020, Colorado regulators gave the initial okay to ban gas flaring in order to curb methane pollution. An outright ban on gas flaring would be good news for the Bitcoin mining industry as that oil producers would have either of two options. First, to reduce the production output of oil which wouldn’t be economically viable. Or, second, utilize excess stranded natural gas on-site, which is where Bitcoin miners could step in to create synergies with big oil companies like ExxonMobil, British Petroleum , Chevron or Valero Energy.
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