A climate tech investor has painted a bright view of the Bitcoin network, suggesting its environmental positives outweigh its negatives by a whopping 31:1 ratio.
On Jan. 12, self-proclaimed philanthropist and environmentalist Daniel Batten claimed in a Twitter thread that “Bitcoin is probably the most important ESG technology of our time.”
Many of the positives involved renewable energy grids and benefits from mining, such as being the leading technology for responding to grid power demand from over and undersupply.
Depending on power demand constraints, Bitcoin mining farms can switch on or off.
Ethereum's switch to proof-of-stake in September 2022 reduced network power consumption by 99.98%.
Source: Cointelegraph
#Bitcoin