- Daniel Batten shared in a series of X posts today that he believes BTC is the ultimate ESG asset.
- Batten highlighted that the emissions of the Bitcoin network will remain unchanged every 4-year cycle.
- The co-founder of CH4 Capital also revealed that the main energy source for Bitcoin is hydro.
The co-founder of CH4 Capital, Daniel Batten, revealed in a series of X posts earlier today why he believes Bitcoin (BTC) is the ultimate Environmental, Social and Governance (ESG) asset. Most notably, Batten pointed out that BTC mining is currently the single most sustainability-powered global industry in the world.
1/44 Charts4 Tweets4 Reasons Bitcoin is the ultimate ESG assetSo what does the data tell us?1. This chart tells us that Bitcoin mining is now the single most sustainably-powered global industry in the world pic.twitter.com/bSwXgL5XmP— Daniel Batten (@DSBatten) September 25, 2023
The co-founder also highlighted that the emissions of the Bitcoin network will remain unchanged at the end of every 4-year cycle regardless of any growth recorded in BTC’s hash rate, users, and price. In addition to this, he mentioned that this is a feat that no other industry has ever accomplished.
2/4This chart says you can throw any growth metric – hashrate, users, price then double it – and emissions of the Bitcoin network will be the same at the end of any four cycle as they were at the start. (Something no other industry has ever accomplished) pic.twitter.com/Wcxhy3ZneK— Daniel Batten (@DSBatten) September 25, 2023
In the third X post, Batten shared that Bitcoin has halved its emissions within just a 4-year period. Furthermore, this enabled the network to have the lowest emission intensity of any major global industry.
3/4This chart says Bitcoin has halved its emission intensity inside four years to have the lowest emission intensity of any major global industry. pic.twitter.com/jtj8nYCOk0— Daniel Batten (@DSBatten) September 25, 2023
In his last X post, the co-founder noted that Bitcoin’s primary energy source is hydro. Subsequently, BTC mining is “not anchored to the 36.7% coal powered global grid.” As a result, it is the only major industry where fossil fuel is not the primary source of power, according to Batten.
4/4This chart, says that Bitcoin's major energy source is hydro. The chart doesn't say it, but its a fun fact: Because Bitcoin mining is not anchored to the 36.7% coal powered global grid, it's also the only major industry where fossil fuel is not the major source of power pic.twitter.com/Bit3aKsznJ— Daniel Batten (@DSBatten) September 25, 2023
Meanwhile, CoinMarketCap data indicated that BTC was changing hands at $26,159.16 at press time. This was after the leading cryptocurrency suffered a 24-hour loss of 1.55%. This negative daily performance also pushed BTC’s weekly performance down to -2.09%.
Despite the negative daily and weekly performances, BTC’s price was still slightly in the green zone on the monthly time frame. At press time, BTC was up 0.16% over the past 30 days. Interestingly, BTC was also a hot topic in the market and occupied the number 3 spot on CoinMarketCap’s trending list. This ranked it behind SOLX and above XRP.
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