Greenpeace USA has released a suspicious new report alleging close ties between the Bitcoin mining industry and various “climate deniers.” The report, released on March 19, 2024, alleges deep-rooted links between the BTC mining industry and various groups traditionally seen as opposed to progressive climate change policies.
These include conservative think tanks, fossil fuel lobbyists, and climate change skeptics, casting a shadow over the Bitcoin community’s claims toward sustainability.
Greenpeace’s investigation aims to uncover a web of relationships that suggest the mining industry, despite public claims to embrace renewable energy and reduce its carbon footprint, remains entangled with groups and individuals that have historically resisted efforts to combat climate change. Let’s do it.
A particularly provocative claim is that it is affiliated with a network funded by the conservative Koch brothers and the American Legislative Exchange Council (ALEC), known for their anti-environmental stances and policies deemed anti-democratic.
The report further accuses the Bitcoin mining sector of working with governments, particularly former members of the Trump administration, to foster a “revolving door” phenomenon, a complex of influence and policy manipulation that benefits the mining industry at the expense of environmental development. It suggests dancing. .
Erik Kojola, senior fellow at Greenpeace USA, summarized the concerns: The Bitcoin industry is like a house of cards that could collapse at any time, and people are working hard behind the scenes to ensure its longevity through greening and shenanigans at the expense of communities and the climate.”
Greenpeace USA researcher Johanna Fornberg added: “Bitcoin industry groups are caught up in a web that includes some of the most notorious climate deniers. (…) Revealing who has power and influence in this industry is essential to holding them accountable for unsubstantiated claims, climate impacts and harm to communities.”
In conjunction with the report, Greenpeace USA created an interactive power map showing the relationships between BTC industry groups, conservative and corporate interest groups, politicians, and other stakeholders highlighted in the report.
Bitcoin community reaction
The release of Greenpeace’s power mining report sparked a strong response from the Bitcoin community, challenging the claims and presenting opposing perspectives that paint a more complex picture of the industry’s environmental footprint and sustainability efforts.
Daniel Batten, Managing Partner at CH4 Capital and an authority on BTC mining landscape analysis, is responsible for challenging the report’s findings. Batten criticizes Greenpeace for relying on “very old datasets,” which he claims no longer accurately represent the current state of BTC mining.
According to Batten, a significant portion of the Bitcoin network now relies on sustainable energy sources, as recent reports, including a Bloomberg Intelligence analysis from September 2023, show that Bitcoin has achieved a 52.6% sustainable energy usage rate. This claim is supported by .
Batten strongly disputes claims of Bitcoin’s carbon footprint, water usage and burden on the power grid, citing peer-reviewed studies and expert analysis that contradict Greenpeace’s conclusions. For example, he cites research showing that mining can contribute to grid stability, lower electricity costs, and accelerate the transition to renewable energy sources, making mining potentially beneficial rather than detrimental to environmental sustainability efforts. We offer an explanation that says.
The only thing that is broken is GreenpeaceUSA’s credibility.
One of the characteristics of the GreenpeaceUSA report is that it is very easy to debunk. I rarely get past the first paragraph without reading a ton of misinformation. This report is no exception.
1. “That…” https://t.co/ekgUnpuriV
— Daniel Batten (@DSBatten) March 19, 2024
The Satoshi Action Fund (SAF), identified by Greenpeace as a key Bitcoin advocate, echoed Batten’s thoughts and used the report’s publication as an opportunity to highlight the effectiveness and aggressiveness of promoting Bitcoin advocacy in the United States. “Huge news: GreenPeace highlights Satoshi Act Fund as the most effective and aggressive Bitcoin advocacy group in the U.S.,” SAF founder Dennis Porter said via X.
Huge News: Greenpeace Highlights @SatoshiActFund Because it is the most effective and aggressive #Bitcoin American advocacy group. https://t.co/5xquoTLb8U pic.twitter.com/UGc9GmPMQg
— Dennis Porter (@Dennis_Porter_) March 20, 2024
Moreover, the Bitcoin community was further strengthened by a community note from “This article contains numerous factual errors, including flawed accounting for each energy transaction, and outdated and inaccurate information, including the percentage of fossil fuels used as energy sources. “Most of the energy used to mine Bitcoin these days is renewable.”
At press time, BTC was trading at $64,220.
Featured image from Greenpeace, chart from TradingView.com