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Author: Admin | 2025-04-28
Rethinking crypto: Mining as a force for clean hydrogen energyPreliminary estimates suggest that crypto mining could represent up to 2.3% of total US electricity consumption in 2023.Updated: Mar 29, 2024 12:45 PM ESTCrypto and green hydrogen concept composite image.ozgurdonmaz/Scharfsinn86 via iStockA novel study from Cornell Engineering investigates how the historically energy-intensive world of cryptocurrency mining might boost renewable energy deployment. The research suggests strategically pairing crypto mining with green hydrogen technology could offer economic benefits and reduce the sector’s carbon footprint.The challenge of crypto’s power consumptionWith its vast computational demands, cryptocurrency mining has gained a reputation for its substantial energy use.” As cryptocurrency operations continue to contribute significantly to global carbon emissions, finding ways to integrate widespread interest in cryptocurrency with a sustainable, climate-friendly future becomes paramount,” states Fengqi You, the Roxanne E. and Michael J. Zak Professor in Energy Systems Engineering in Cornell Engineering.You and doctoral student Apoorv Lal authored the study titled “Climate Sustainability Through a Dynamic Duo: Green Hydrogen and Crypto Driving Energy Transition and Decarbonization,” published in the Proceedings of the National Academy of Sciences. Their work explores the potential positive environmental contributions of this “dynamic duo.”Green Hydrogen: A cleaner cryptocurrency futureThe Cornell Engineering researchers propose a scenario where energy-intensive crypto-mining operations are coupled with green hydrogen production. Green hydrogen, created through the electrolysis of water powered by renewable sources like solar or wind, offers a clean energy storage solution. “Building green hydrogen infrastructure for cryptocurrency production could accelerate the growth of renewable energy and result in a more sustainable energy landscape,” says Lal.US cryptocurrency mining currently consumes a staggering amount of carbon-based energy – comparable to the entire nation of Argentina’s consumption according to a 2022 White House report. This is largely due to the energy-intensive “proof of work” mechanisms used to verify crypto assets. Preliminary estimates suggest that crypto mining could represent up to 2.3% of total US electricity consumption in 2023.“Recognizing the environmental impact of cryptocurrency mining, our research offers a solution,” said You. “We can repurpose cryptocurrencies as virtual energy carriers alongside green hydrogen. This would turn a significant environmental problem into a powerful tool for climate action and a more sustainable future.”You and Lal’s research analyzed the potential energy benefits of cryptocurrency mining across individual U.S. states. Their findings suggest that supporting cryptocurrency could drive the development of renewable energy infrastructure. For instance, mining a single Bitcoin in New Mexico could potentially generate 78.4 megawatt-hours of solar power, while the same process in Wyoming could yield 265.8 megawatt-hours of wind power.RECOMMENDED ARTICLES“Cryptocurrency’s value is virtual,” You explained, “but it can have a tangible impact on our energy landscape. Think of it as facilitating energy generation, similar to a gift card model.”Need for stronger policy and initiativesTo make this model a reality, the researchers advocate for stronger federal policies centered on renewable energy and climate initiatives. “Coupled with green hydrogen, this approach to cryptocurrency not only mitigates its own environmental impact, but pioneers a sustainable path for renewable energy transition,” says You.
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