On October 29, Brian Roemmele, co-host of the Around the Coin podcast, tweeted a photo of a submerged Bitcoin mining setup. He said that “by burying Bitcoin Miners in liquid, heat and noise are decreased by 95%. And we can recover up to 40% of the heat and turn it to energy.”
“By 2024, Bitcoin will be 100% green,” he said, adding that “no other system will be more green.”
Submerging Bitcoin mining ASICs in a specific cooling fluid that captures and reuses heat from the data centre is known as immersive cooling. The productivity of Bitcoin mining is increased with this strategy.”
“Immersive cooling technology could aid with the shift to zero-emission transportation” Hass McCook, a member of the Bitcoin Mining Council (BMC), stated.
McCook, who goes by the online handle Friar Hass, believes the sector will meet the target by 2030.
Riot Blockchain, a Bitcoin mining business, said earlier this month that at its Whinstone Facility, it will build 200 megawatts of immersion-cooled Bitcoin mining gear. The company forecasts the hash rate to grow by 25%. And ASIC functionality to improve by up to 50% based on preliminary immersion-cooling test findings.
McCook’s doubts on time’s frame
While McCook believes Bitcoin can become carbon neutral, he is pessimistic about the timeline.
“I believe it will be zero emissions by 2030,” he remarked. “But I think 2024 is a bit unrealistic”. “I also believe that immersive cooling technology might be an element of the green transition.”
“So you get durability and you don’t have to manufacture as many of these things in terms of sustainability”, he continued.
Immersive cooling can lessen the need for equipment replacement. As well as the amount of energy used to keep rigs cool when mining BTC. While this reduces mining’s environmental impact, it also makes mining more appealing to miners, according to McCook.
“The switch to green Bitcoin mining will not be motivated by environmental concerns. It will aim to reduce miners’ cost basis in order to increase earnings.”
He went on to say that the important game was whether miners used sustainable energy sources.
“The unpleasant reality is that whatever is on the other side of that socket is what you get when you plug your equipment into the wall,” McCook said.
“In order for Bitcoin to be really zero-emission, the underpinning infrastructure must also be zero-emission.”
Bitcoin is turning green faster than it has ever been
According to the BMC, “the worldwide mining industry’s sustainable power mix increased to roughly 57.7% in Q3 2021. Up 3% from Q2 2021, making it one of the most sustainable industries globally.”
Bitcoin is getting closer to a more green future. As per Bitcoin Mining Council’s recent findings, the North American participants polled are presently using electricity with a 65.9% sustainable power mix.