WEBVTT 00:00:05.899 --> 00:00:08.640 Welcome to the Bitcoin Street Journal, your go 00:00:08.640 --> 00:00:11.140 -to podcast for daily live updates on the world 00:00:11.140 --> 00:00:13.880 of Bitcoin markets. With current live Bitcoin 00:00:13.880 --> 00:00:16.320 technical analysis, up -to -date information 00:00:16.320 --> 00:00:19.780 on Bitcoin, BTC price, market capitalization 00:00:19.780 --> 00:00:22.399 and market supply, you'll always be in the know 00:00:22.399 --> 00:00:24.539 on the latest happenings in the ever evolving 00:00:24.539 --> 00:00:27.769 world of cryptocurrency. Be sure to hit the subscribe 00:00:27.769 --> 00:00:30.870 button to stay informed and never miss an episode. 00:00:31.449 --> 00:00:34.409 In today's episode, we'll cover Bitcoin mining's 00:00:34.409 --> 00:00:36.950 sustainability efforts, including the use of 00:00:36.950 --> 00:00:39.869 renewable energy sources and the steps being 00:00:39.869 --> 00:00:43.090 taken to reduce its environmental impact, such 00:00:43.090 --> 00:00:45.850 as climate friendly hardware and carbon footprint 00:00:45.850 --> 00:00:56.270 disclosure policies. Bitcoin mining. typically 00:00:56.270 --> 00:00:58.829 viewed in a negative light, is actually making 00:00:58.829 --> 00:01:01.250 strides towards becoming a more sustainable practice. 00:01:01.750 --> 00:01:04.469 In fact, it has the lowest emission intensity 00:01:04.469 --> 00:01:07.930 of any sector of the economy. The mining process 00:01:07.930 --> 00:01:10.730 uses a lot of energy, which has raised concerns 00:01:10.730 --> 00:01:13.290 about its impact on the environment. However, 00:01:13.790 --> 00:01:16.430 as renewable energy sources like hydropower, 00:01:16.650 --> 00:01:19.609 wind, and solar become more prevalent, miners 00:01:19.609 --> 00:01:22.150 are becoming more open to using them to power 00:01:22.150 --> 00:01:25.430 their operations. This shift towards green energy 00:01:25.430 --> 00:01:27.950 is evident in the increasing global share of 00:01:27.950 --> 00:01:30.769 renewable energy used in Bitcoin mining, which 00:01:30.769 --> 00:01:34.250 rose from 39 percent in January 2020 to almost 00:01:34.250 --> 00:01:38.489 60 percent in early 2021. Mining giant F2pool 00:01:38.489 --> 00:01:41.010 has taken a step further in adopting solar energy 00:01:41.010 --> 00:01:44.129 to power its operations, reducing energy costs 00:01:44.129 --> 00:01:47.329 by up to 70 percent. This is all part of a larger 00:01:47.329 --> 00:01:49.890 industry wide initiative to focus on green energy 00:01:49.890 --> 00:01:52.709 resources and promote environmental sustainability. 00:01:59.950 --> 00:02:02.469 Are you curious about Bitcoin mining's environmental 00:02:02.469 --> 00:02:05.430 impact and how to minimize it? There are a few 00:02:05.430 --> 00:02:07.569 key ways that miners and companies can make a 00:02:07.569 --> 00:02:10.370 difference. First of all, by using climate friendly 00:02:10.370 --> 00:02:13.569 hardware like smartphones, tablets and laptops, 00:02:13.930 --> 00:02:16.729 they can increase energy efficiency and reduce 00:02:16.729 --> 00:02:19.430 power usage. While most mining is still done 00:02:19.430 --> 00:02:22.270 with specialized ASIC machines, as USA Today 00:02:22.270 --> 00:02:25.189 reports, it's possible to use lower power machines 00:02:25.189 --> 00:02:27.530 as software developer Dave Conroy demonstrated 00:02:27.530 --> 00:02:31.000 with his 40 iPhone mining rig. Incentivizing 00:02:31.000 --> 00:02:33.419 renewable energy use is another important step. 00:02:34.280 --> 00:02:36.680 One idea proposed by Long Yuan, founder of Hashcow 00:02:36.680 --> 00:02:39.560 Miner, would offer miners discounts on electricity 00:02:39.560 --> 00:02:42.379 rates from renewable sources like wind, solar 00:02:42.379 --> 00:02:45.240 and hydroelectric power. By shifting away from 00:02:45.240 --> 00:02:48.199 fossil fuels, the Bitcoin industry could dramatically 00:02:48.199 --> 00:02:51.159 reduce its carbon footprint. Another action that 00:02:51.159 --> 00:02:53.960 could make a big difference is pushing for disclosure 00:02:53.960 --> 00:02:57.139 policies around carbon footprints. If companies 00:02:57.139 --> 00:02:59.599 had to publicly share their emissions data and 00:02:59.599 --> 00:03:02.060 electricity sources, it would encourage greater 00:03:02.060 --> 00:03:04.539 transparency and dialogue between miners and 00:03:04.539 --> 00:03:07.680 communities. The good news is that as renewable 00:03:07.680 --> 00:03:10.360 energy gets cheaper and more available, more 00:03:10.360 --> 00:03:13.319 miners are choosing to use it. In fact, Bitcoin's 00:03:13.319 --> 00:03:15.599 current carbon emissions are estimated to be 00:03:15.599 --> 00:03:17.800 lower than some of the world's biggest banks 00:03:17.800 --> 00:03:20.979 and tech companies. As more miners follow their 00:03:20.979 --> 00:03:23.960 lead and focus on responsible, sustainable practices, 00:03:24.860 --> 00:03:27.139 we can expect Bitcoin's environmental impact 00:03:27.139 --> 00:03:29.759 to continue decreasing. So while Bitcoin mining 00:03:29.759 --> 00:03:31.939 may have a reputation for being bad for the planet, 00:03:32.460 --> 00:03:34.740 a greener, more sustainable future is not only 00:03:34.740 --> 00:03:47.060 possible, it's already in the works. On today's 00:03:47.060 --> 00:03:49.560 episode, we discuss the sustainability of Bitcoin 00:03:49.560 --> 00:03:52.360 mining, including the industry's lower emission 00:03:52.360 --> 00:03:55.439 intensity and steps being taken to reduce its 00:03:55.439 --> 00:03:57.939 environmental impact through renewable energy 00:03:57.939 --> 00:04:00.939 sources, climate friendly hardware, and carbon 00:04:00.939 --> 00:04:03.060 footprint disclosure policies. Thanks for listening 00:04:03.060 --> 00:04:04.379 and don't forget to subscribe.