Bitcoin Mining – The International Drive to Go Green

<p>Bitcoin mining can harness previously unused energy sources, such as
stranded methane and geothermal energy, to reduce its greenhouse gas emissions
and advance climate goals, according to a market commentary titled 'The Role of
Bitcoin Mining in Climate Goals' by HAYVN Global.</p><p>Bitcoin mining, often criticized for its high energy consumption, can dramatically
reduce its climate impact by harnessing previously unused energy sources and
reducing greenhouse gas emissions, according to the commentary from <a href="https://hayvnglobal.com/">HAYVN Global</a>.</p><p>Bitcoin Mining – Substantial Energy Use</p><p>Bitcoin mining, the process of <a href="https://www.financemagnates.com/tag/bitcoin-mining/" target="_blank" rel="follow">verifying transactions and creating new
blocks</a> on the Bitcoin <a href="https://www.financemagnates.com/terms/b/blockchain/">blockchain</a>, requires a significant amount of energy. This
has led to concerns about the environmental impact of Bitcoin mining,
particularly its contribution to climate change. This is especially relevant given debates around the <a href="https://www.financemagnates.com/cryptocurrency/does-bitcoin-or-crypto-mining-still-pay-off/" target="_blank" rel="follow">financial viability of mining</a>.</p><p>However, there is a growing movement to use Bitcoin mining to harness
previously unused energy sources, such as stranded methane and geothermal
energy. This could help to reduce the environmental impact of Bitcoin mining
and even make it a net positive for the climate, according to the HAYVN Global
report.</p><p>Harnessing Stranded Methane</p><p>Stranded methane is methane gas that is released into the atmosphere or
flared because it is too costly to capture or transport. Methane is a potent
greenhouse gas, with a global warming potential 84 times greater than carbon
dioxide over a 20-year period.</p><p>Bitcoin miners can capture stranded methane gas and use it to power
their mining operations. This reduces methane emissions and provides a new
source of revenue for energy producers.</p><p>Several companies are already working to harness stranded methane for
Bitcoin mining. For example, <a href="https://linkglobal.io/">Link Global
Technologies</a> in Alberta, Canada, is using stranded methane from inactive
natural gas wells to power Bitcoin mining and data centers.</p><p>Geothermal Energy</p><p>Geothermal energy is heat generated and stored in the Earth. It is a
renewable and clean energy source that can be used to generate electricity.</p><p>El Salvador is one country that is using geothermal energy to power
Bitcoin mining. In October 2022, El Salvador launched the <a href="https://www.nasdaq.com/articles/volcano-energy-builds-road-to-geothermal-bitcoin-mining-in-el-salvador">Lava
Pool</a>, the world's first geothermal-powered Bitcoin mining pool. The Lava
Pool is a collaboration between Volcano Energy and Luxor Technology
Corporation. It uses geothermal energy from the Conchagua volcano to power
Bitcoin mining operations.</p><blockquote><p lang="en" dir="ltr">Get ready for a new era of Bitcoin Mining with volcanic energy. Discover everything about Volcano Energy, a $1 billion Bitcoin mining project set to transform El Salvador through the development and operation of renewable energy plants. Check out this video