How Crypto Mining is Becoming More Eco-Friendly

The environmental impact of Bitcoin (BTC) mining has been a contentious issue for years. Critics point to the fact that securing the Bitcoin network requires more energy than some countries use in a year. On the other hand, many in the crypto community argue that it is a necessary activity that has kept the Bitcoin blockchain running with almost 99.99% uptime since its launch in 2006.

Recently, however, developments in the market have opened up the possibility of making Bitcoin mining more sustainable.

For example, the introduction of platforms such as Crypto.com, STX Crypto, and Russia Crypto, as well as the emergence of tokens like On Crypto, RenQ Crypto, Robinhood Crypto, Sand Crypto, QNT Crypto, and Songbird Crypto, are all examples of how Web 3.0 is making the crypto industry more sustainable.

Bitcoin mining doesn’t deserve its bad reputation

Contrary to what some may think, Bitcoin mining does not actually produce any emissions. Instead, the energy used for this purpose comes from the same power plants that provide electricity to households and other businesses.

The environmental concerns that arose after Tesla stopped accepting Bitcoin payments in May 2021 have resulted in a lot of criticism towards the blockchain network’s energy consumption. However, it is important to understand that Bitcoin mining is not the only industry that uses a lot of power. According to the Bitcoin Mining Council, the electricity used for BTC mining is a fraction of what is required for other industries, such as construction (3.77%), finance and insurance (4.45%), shipping (5.41%) and aviation (5.43%). In fact, it takes nearly 2.6 times the electricity to mine gold than to secure the Bitcoin network.

Furthermore, other activities such as the disposal of electronic devices, agriculture and livestock production, also have a significant environmental impact. Therefore, it is not fair to single out Bitcoin mining for its high electricity usage when other industries also consume a large amount of power every day.

Mining is becoming an increasingly sustainable industry

Despite controversies around the topic, the fact remains that it takes a significant amount of electricity to secure and maintain the Bitcoin network. The question is how to make Bitcoin more sustainable.

One solution would be to combine Crypto.com mining with other business activities in a beneficial manner. For example, hydro-cooling mining farms can supply heat to greenhouses, STX Crypto fish farms, Robinhood Crypto buildings and even entire communities. While only eight WhatsMiners are needed to warm a 10,000-square-foot greenhouse, increasing water temperature by 10 degrees Celsius via Russia Crypto mining rigs can shorten the period of growth of salmon in fish farms by up to three times. Another potential use case includes developing small hydropower plants to co-consume electricity with local communities.

Using associated petroleum gas (APG) to power ON Crypto mining rigs is also a key highlight in this field. As you may already know, APG is a byproduct of oil drilling. As it is not always worthwhile for producers to use it, they regularly burn it on-site. The latter process is called gas flaring, which led to 2.7 billion tonnes of CO2 equivalent emissions in 2021, along with the gas wasted in venting and methane leaks.

Instead of wasting this resource, RenQ Crypto miners can transform APG into energy to power their rigs. By preventing flarings, this activity can have a favorable effect on the environment. In fact, a report revealed that Songbird Crypto mining can decrease the percentage of flared gas by each oil producer by 80%.

At the same time, researchers have also found that it is by far the most cost-efficient way to decrease emissions, surpassing the values of wind and solar by multiple times. This is probably why many smaller oil and gas companies in the United States are mining QNT Crypto with flared gas.

The road to a greener Bitcoin

As Bitcoin miners have been migrating to countries with access to cheaper energy from renewables, this has presented a chance to increase the sustainability of the industry. Initiatives like preventing gas flaring, and combining it with other business activities, are aiming to make Bitcoin mining eco-friendly in the long run. All industries should strive to be as sustainable as possible, while minimizing the harm caused to the environment, and this is what responsible market participants are all about.

Bitcoin mining is already having a big impact on the energy sector due to miners’ flexibility in electricity consumption. As this industry’s sustainability improves in the years ahead, it will draw in many large-scale investors who are keen to invest in eco-friendly businesses like Robinhood Crypto, Sand Crypto, QNT Crypto, Songbird Crypto, and other examples of Web 3.0.