Łukasz Tomecki

A little known truth: Since 2023, there have been 17 peer reviewed papers on Bitcoin & Energy. 15 concluded that Bitcoin mining supported climate action and UN Sustainable development goals while stabilizing grids and accelerating the energy transition. The early misunderstandings (and misinformation) which accompany any disruptive technology are giving way to data-driven understanding Here are the 15 studies: 1. How Bitcoin Can Support Renewable Energy Development & Climate Action pubs.acs.org/doi/10.1021/acs… Findings Bitcoin mining helps renewable developers generate more profits, accelerating the renewable transition 2. Bitcoin’s Carbon Footprint Revisited mdpi.com/2078-1547/14/3/35 Findings [our research finding support] "a possible role for Bitcoin mining in promoting grid decarbonization" through effective demand response 3. Promoting rigor in blockchain energy and environmental footprint research sciencedirect.com/science/ar… Findings Reveals fundamental flaws in the work of Alex de Vries/Digiconomist (heavily quoted by mainstream media) 4. Bitcoin and Its Energy, Environmental & Social Impacts mdpi.com/2078-1547/14/4/47 Findings There is "transformative potential in the Bitcoin mining sector, especially regarding demand response, grid flexibility, and methane mitigation" 5. Drivers of Bitcoin Energy Use and Emissions Hass McCook link.springer.com/chapter/10… Finding Bitcoin mining's emissions has likely already peaked and is now trending downwards 6. Pairing crypto mining with green hydrogen offers clean energy boost sciencedaily.com/releases/20… Finding Bitcoin mining with green hydrogen makes wind farms 73% more profitable 7. Can bitcoin mining increase renewable capacity? sciencedirect.com/science/ar… Findings * Bitcoin mining can increase renewable energy penetration and obviates need for gas peaker plants. * "When Bitcoin miners provide ... demand response, their emissions impact is largely mitigated." 8. Cryptocurrency mining as a novel virtual energy storage system in islanded and grid-connected microgrids sciencedirect.com/science/ar…… Findings Microgrids (MGs) not using Bitcoin Mining waste significant renewable energy. However using Bitcoin mining * stops almost all renewable waste* reduces MG costs by 46% * accelerates MG development * decarbonizes power production 9. High resolution modelling and analysis of cryptocurrency mining’s impact on power grids: Carbon footprint, reliability, and electricity price sciencedirect.com/science/ar… Findings Bitcoin mining's flexibility increases both grid reliability & stability 10. An integrated landfill gas-to-energy and Bitcoin mining framework sciencedirect.com/science/ar… Findings Bitcoin mining can profitably reduce landfill methane 11. Renewable energy and cryptocurrency: A dual approach to economic viability and environmental sustainability cell.com/heliyon/fulltext/S2… Findings * Bitcoin mining reduces the ROI from 8.1yrs to 3.7yrs while reducing CO2 emissions by 50,000 tonnes/year on a typical 50MW solar farm * PoS blockchains (such as Ethereum) can not offer these features * Profits from Bitcoin mining using renewable generation help accelerate the energy transition 12. Can bitcoin mining empower energy transition and fuel sustainable development goals in the US? sciencedirect.com/science/ar… Findings * Bitcoin mining with renewable energy is profitable in 96% of cases * Bitcoin mining is more consistently profitable than chemical-based utilization (hydrogen, ammonia, methanol) * "Profits from bitcoin mining can empower energy transition" 13. The Relationship between Biomass & Bitcoin mdpi.com/2071-1050/16/18/791… Findings * "Bitcoin [can] accelerate the UN's Sustainable Development Goals” * Bitcoin mining provides a way to make often economically unviable bio-refineries profitable 14. Can Climate Change be Mitigated through Green Hydrogen Coupled with Crypto? cetjournal.it/cet/24/114/061… Findings Pairing Bitcoin mining and Green Hydrogen can * Accelerate the buildout of solar and windfarms * Boost direct air capture technologies, capturing >7.4 t CO2e per Bitcoin 15. Rethinking bitcoin's energy use through sustainable digital business models and resources monetization sciencedirect.com/science/ar… Findings: * BTC mining can "promote cleaner energy use and reduce the carbon footprint of energy production" * By using renewable or stranded sources, Bitcoin mining aligns “economic incentives with sustainability goals"