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New study proves the sustainability of Bitcoin mining

Daniel Batten's ESG analysis shows clean energy use in Bitcoin mining.

By Finst News
• 3 min read
New study proves the sustainability of Bitcoin mining

Daniel Batten's ESG analysis shows clean energy use in Bitcoin mining. But how reliable are the data?

From the latest View post on X by ESG analyst Daniel Batten, it shows that 29 mining companies, representing 16.48 percent of total hash share, operate on clean energy at 90 to 100 percent. Batten calculated the figures using a combination of machine type, megawattage, mined BTC, and the hashrate. Direct outreach to mining companies was also part of his research.

Results still need to be scrutinized with a critical eye

Batten, who calls himself an environmental activist, is known for meticulous work, but as a committed Bitcoin believer he still has a bias. The Bitcoin Mining Council (BMC) quarterly results probably should be viewed with a similarly critical eye—after all, BMC members are keen to bury the cryptocurrency's "climate killer" image. According to the BMC, the Bitcoin network actually has a sustainable energy mix of nearly 68 percent.

Because the BMC relies on data provided by its members, critics accuse the association of bias and scientific inaccuracy. Other studies give Bitcoin a noticeably poorer eco-certification.

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