Daniel

Overview: From our research it would appear that whenever a disruptive technology come into being, it is attacked. Such was the case for the radio, the book, the bicycle and more recently the Internet. This attack often seems to stem from fear of the unknown (remember the fear that computers would “take all our jobs […]

Overview In previous literature, Cambridge Centre for Alternative Finance (CCAF) postulated that the major energy source used by the Bitcoin network was coal. In my Feb 2023 article in Bitcoin magazine, I suggested that this conclusion would need to be revisited as it was based on a dataset that did not include off-grid mining (as

Now that we have a new model (BEEST), based on the CCAF model, with known exclusions added in, we can start asking this model some intriguing questions. Right now, a lot of people are asking me a lot of questions based on the model. So this article is a wandering path through a number of

The most familiar sound I have heard all morning is sirens and the sound of neighbours making makeshift repairs. This wasn’t supposed to happen. This was supposed to be our grandchildren’s issue not ours. This  was supposed to be an issue that would hit the developing world, then Australia and Europe. But not us. Not now.

Introduction We are at an inflection point in Bitcoin mining history. Policy decisions made now will have far-reaching consequences. So it is more important than ever that these decisions are based on robust, complete, and up-to-date data. The Bitcoin Mining Council (BMC) reports that the Bitcoin network uses 59.4% zero-emission* power sources. In contrast, the

Setting the Scene You have probably heard about Bitcoin by now. Whether what you have heard makes sense, or is accurate is less certain. Whatever understanding you come with, I invite you to put that to one side so we can start at the bottom, to understand why Bitcoin was invented, what problem it solves

Executive Summary: 291.9 MW of power from vented carbon negative sources such as landfill gas would make the entire Bitcoin network carbon neutral. To put in context how achievable this is: if Bitcoin mining companies focused on using previously vented sources of methane emissions (such as: vented landfill gas) it would take only 35 landfills

Executive Summary: By an order of magnitude, using vented methane as a power source is the most carbon negative fuel source. Of different vented sources, landfills are the most economically viable source. Wastewater methane can be repurposed to run power-hungry waste-water treatment plants, but landfills are isolated and generally the grid infrastructure is inadequate to

Note: this is a dynamic report that gets updated as new data on new carbon negative Bitcoin mining, new carbon-neutral Bitcoin mining, miner efficiency (avg J/TH) and new estimated total Bitcoin network energy consumption becomes available. Current statistics may vary from those previously reported. Last updated: 21 July 2023 Introduction The Bitcoin Mining Council has

Bitcoin mining might not be the great evil we have been led to believe it is. Since the China-ban, the Bitcoin Mining council reports a significant rise in the use of renewable energy. In some quarters, they have been questioned due to the fact it relies on self-reported data. To avoid this criticism, I decided to do