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Daniel Batten

@DSBatten

May 24

1/9
Just in: our report on #bitcoinmining & #climatechange

Full report: batcoinz.com/quantifying-th…

Findings
1. Using #BTC mining to combust leaking methane can eliminate 5.32% of all global CO2-eq emissions...

#ESG #sustainability #methane #UNEP #IPCC #CCAC #climatechange

2/9

2. By aggressively targeting leaked methane, Bitcoin mining has the potential to avoid 0.15% of warming by 2045, potentially earlier.

#BitcoinIsGreen #environment

3/9

3. No other existing technology is currently equipped to achieve this feat at this pace.

In short: Reducing methane emissions is the strongest lever we have to slow climate change. #Bitcoin mining is the fastest, most reliable hand we have upon that lever.

Read 9 tweets

Daniel Batten

@DSBatten

May 23

1/
At our #ESG ClimateTech fund, as part of our due diligence on #bitcoinmining, we examined the 7 Most #ESG arguments against #Bitcoin.

We expected to find a mixture of some true, some false, some grey

We were surprised to find all 7 were false. No grey areas
Here's the list

#ESG Argument 1. "Bitcoin competes with other users like hospitals, industry, residential users"

We found this to be unlikely in theory and practice because more users on the grid means more expensive wholesale electricity: which quickly makes #bitcoin mining unprofitable...

... What we did find evidence for was that when demand spiked, Bitcoin miners either voluntarily stop mining to preserve profitability, or executed pre-agreements with grid operators that taper power consumption down 99%.

Read 15 tweets

Daniel Batten

@DSBatten

May 12

Cutting methane emissions is the strongest lever we have to slow climate change now. #BTC mining is 1 of the 2 strongest hands we have to pull that lever

This'll be a surprising fact for many

So here's the most 7 common misconceptions that can stop people grasping it

1. “Burning methane releases CO2 which will increase our carbon emissions”.

The opposite is true. Both and CO2 and hydrocarbons like Methane (CH4) contribute to climate change.

However, over a 20 year period, Methane has 84x the warming effect of CO2.

Burning I T methane releases 2.75 T CO2.

So combusting methane to generate power decreases Carbon emissions by 84/2.75 = 31x.

Not 31%, 31X. ie: a 3100% reduction.

Read 13 tweets

Daniel Batten

@DSBatten

May 8

While not investment advice, this is my opinion as a fund manager on the ESG case for Bitcoin after 2 months due diligence.

If you’re a manager of fund where #bitcoin is an investment candidate: failure to consider #BTC in the mix is gross negligence to your ESG obligations

If you’re a private investor, not investing in #BTC because it “uses energy” is like not investing in solar because it “uses energy” (coal in solar’s case) in it's manufacture: a 101 level cost-accounting fail. We must look at cost & benefit to asset an asset's net ESG position

First some background. As well as being an ESG fund manager, I’ve been an investing into novel technologies since 2000. Our first 2 funds focused on deep-tech solutions that remove carbon out of industrial processes. The impact of those technologies will be felt from 2035 onwards

Read 16 tweets

Daniel Batten

@DSBatten

Apr 29

0/16

BREAKING: Bitcoin mining can slash methane emissions by 2030.

Bitcoin mining can reduce our global emissions by up to 8% by 2030, simply by converting the world’s wasted and dangerous methane emissions into 80x less harmful emissions.

1/16

First some background. Around 20% of all our GHG emissions are from methane.

*This graph says 17.4%, but 2020-21 NASA data reveals that’s been underestimated. More on that later.

2/16

According to UNEP, “Human-caused methane emissions could be reduced up to 45% in 10 years. This would avert ~0.3°C of global warming by 2045. Methane reductions must [accompany] decarbonizing the energy system”

ie: “without slashing methane emissions, NGMI”

Read 17 tweets

Daniel Batten

@DSBatten

Apr 13

0/18
BREAKING: #BTC Mining can drive us to 70% renewables-based energy consumption by 2030.

To say "#BTC mining is good for the environment" is like saying "the sun is warm": a massive understatement. #BTCmining is our unexpected superhero. Here's how.

vimeo.com/698811685

1/18

Here’s our energy mix today. While renewables are growing. However - so too is fossil fuels. It's still by far the major source of our global energy consumption.

Unless we have mostly renewable energy by 2030, the IPCC tells us we'll have runaway climate change. Not cool.

2/18

Here's the picture by line item. Coal has peaked. That’s good. Solar & wind is increasing. But not fast enough. If we look at their annual growth, it's alarming

Both solar & wind have slowing growth rates

eg: Solar slowed from 54%/year 10 years ago to 22%/year in 2020.

Read 19 tweets

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