Good Morning, Bitcoin is your latest news roundup delivering key stories, project updates, new releases, guides, research, and all things related to Bitcoin and freedom tech.

![Good Morning, Bitcoin - Tuesday, April 22nd, 2025](https://www.nobsbitcoin.com/content/images/2025/04/1gm40.jpg)

_**Good morning** (good night?)!_ The No Bullshit Bitcoin [news feed](https://www.nobsbitcoin.com/rss-feeds/) is now available on [Moody's Dashboard](https://dashboard.clarkmoody.com/)! A huge shoutout to sir [_Clark Moody_](https://njump.me/nevent1qqspy9hy5pxfza4tuhk5zx7zls3t6dd6nppp2v3l9ead53tx0x2a0mgpz3mhxue69uhhyetvv9ujuerpd46hxtnfduqs7amnwvaz7tmwdaehgu3wd4hk6q3q5n94rarp3n7dz6edx9cugeshn0kcuxtugwu9nzprkpx7yekw7ygq27sgqj) for integrating our feed.

[![Good Morning, Bitcoin - Tuesday, April 22nd, 2025](https://www.nobsbitcoin.com/content/images/2025/04/a35b533e45a4fa2edbd0818cd6d0402fe007df98ac6c29c9262ff44aefcb6e20.jpg)](https://dashboard.clarkmoody.com/)

Headlines
---------

*   **Spiral welcomes _Ben Carman_.** The developer [will work](https://xcancel.com/spiralbtc/status/1914334079387914435) on the LDK server and a new SDK designed to simplify the onboarding process for new self-custodial Bitcoin users.

[![Good Morning, Bitcoin - Tuesday, April 22nd, 2025](https://www.nobsbitcoin.com/content/images/2025/04/image-35.png)](https://xcancel.com/spiralbtc/status/1914334079387914435)

*   **The Bitcoin Dev Kit Foundation announced new corporate members for 2025**, including [AnchorWatch](https://www.anchorwatch.com/), [CleanSpark](https://www.cleanspark.com/), and [Proton Foundation](https://proton.me/foundation). The annual dues from [these corporate members](https://bitcoindevkit.org/blog/_2025q1-new-foundation-members/) fund the small team of open-source developers responsible for maintaining the core BDK libraries and related free and open-source software (FOSS) projects.
*   **Strategy increases Bitcoin holdings to 538,200 BTC.** In the [latest purchase](https://www.coindesk.com/markets/2025/04/21/strategy-buys-usd555m-of-bitcoin-increases-total-stash-to-538-200-btc), the company has spent more than $555M to buy 6,556 coins through proceeds of two at-the-market stock offering programs.
*   **Spar supermarket experiments with Bitcoin payments in Zug, Switzerland.** The store [has introduced](https://bitcoinnews.com/adoption/spar-supermarket-switzerland-bitcoin/) a new payment method powered by the Lightning Network. The implementation was facilitated by DFX Swiss, a service that supports seamless conversions between bitcoin and legacy currencies.

[![Good Morning, Bitcoin - Tuesday, April 22nd, 2025](https://www.nobsbitcoin.com/content/images/2025/04/image-36.png)](https://www.linkedin.com/feed/update/urn:li:activity:7318277304881709057/)

*   **The Bank for International Settlements (BIS) wants to contain 'crypto' risks.** A report titled _"_[_Cryptocurrencies and Decentralised Finance: Functions and Financial Stability Implications_](https://www.bis.org/publ/bppdf/bispap156.htm)_"_ calls for expanding research into "how new forms of central bank money, capital controls, and taxation policies can counter the risks of widespread crypto adoption while still fostering technological innovation."
*   **"Global Implications of Scam Centres, Underground Banking, and Illicit Online Marketplaces in Southeast Asia."** According to the United Nations Office on Drugs and Crime (UNODC) [report](https://www.unodc.org/roseap/uploads/documents/Publications/2025/Inflection_Point_2025.pdf), criminal organizations from East and Southeast Asia are swiftly extending their global reach. These groups are moving beyond traditional scams and trafficking, creating sophisticated online networks that include unlicensed cryptocurrency exchanges, encrypted communication platforms, and stablecoins, fueling a massive fraud economy on an industrial scale.
*   **Slovenia is considering a 25% capital gains tax on Bitcoin profits for individuals.** The Ministry of Finance [has proposed](https://www.gov.si/novice/2025-04-17-v-javni-obravnavi-zakonska-predloga-s-podrocja-kriptosredstev-in-izvedenih-financnih-instrumentov/) legislation to impose this tax on gains from cryptocurrency transactions, though exchanging one cryptocurrency for another would remain exempt. At present, individual 'crypto' traders in Slovenia are not taxed.
*   **Circle, BitGo, Coinbase, and Paxos plan to apply for U.S. bank charters or licenses.** According to a [report](https://archive.is/dxbWM) in _The Wall Street Journal_, major crypto companies are planning to apply for U.S. bank charters or licenses. These firms are pursuing limited licenses that would permit them to issue stablecoins, as the U.S. Congress deliberates on legislation mandating licensing for stablecoin issuers.

> "Established banks, like Bank of America, are hoping to amend the current drafts of \[stablecoin\] legislation in such a way that nonbanks are more heavily restricted from issuing stablecoins," people familiar with the matter [told](https://www.theblock.co/post/351402/circle-bitgo-to-apply-for-bank-charters-coinbase-paxos-may-follow-suit-wsj) The Block.

*   **Charles Schwab to launch spot Bitcoin trading by 2026.** The financial investment firm, managing over $10 trillion in assets, [has revealed](https://riabiz.com/a/2025/4/19/rick-wurster-puts-harder-date-on-schwab-spot-bitcoin-launch-after-key-hire-and-400-surge-in-visits-to-its-crypto-site-but-isnt-pulling-down-crypto-red-flags-quite-yet) plans to introduce spot Bitcoin trading for its clients within the next year.

Use the tools
-------------

*   [**Bitcoin Safe v1.2.3**](https://github.com/andreasgriffin/bitcoin-safe/releases/tag/1.2.3) expands QR SignMessage compatibility for all QR-UR-compatible hardware signers (SpecterDIY, KeyStone, Passport, Jade; already supported COLDCARD Q). It also adds the ability to import wallets via QR, ensuring compatibility with Keystone's latest firmware (2.0.6), alongside other improvements.
*   [**Minibits v0.2.2-beta**](https://github.com/minibits-cash/minibits_wallet/releases), an ecash wallet for Android devices, packages many changes to align the project with the planned iOS app release. New features and improvements include the ability to lock ecash to a receiver's pubkey, faster confirmations of ecash minting and payments thanks to WebSockets, UI-related fixes, and more.
*   [**Zeus v0.11.0-alpha1**](https://github.com/ZeusLN/zeus/releases/tag/v0.11.0-alpha1) introduces Cashu wallets tied to embedded LND wallets. Navigate to Settings > Ecash to enable it. Other wallet types can still sweep funds from Cashu tokens. Zeus Pay now supports Cashu address types in Zaplocker, Cashu, and NWC modes.
*   [**LNDg v1.10.0**](https://github.com/cryptosharks131/lndg/releases/tag/v1.10.0), an advanced web interface designed for analyzing Lightning Network Daemon (LND) data and automating node management tasks, introduces performance improvements, adds a new metrics page for unprofitable and stuck channels, and displays warnings for batch openings. The Profit and Loss Chart has been updated to include on-chain costs. Advanced settings have been added for users who would like their channel database size to be read remotely (the default remains local). Additionally, the AutoFees tool now uses aggregated pubkey metrics for multiple channels with the same peer.
*   [**Nunchuk Desktop v1.9.45**](https://github.com/nunchuk-io/nunchuk-desktop/releases) release brings the latest bug fixes and improvements.
*   [**Blockstream Green iOS v4.1.8**](https://github.com/Blockstream/green_ios/releases) has renamed L-BTC to LBTC, and improves translations of notifications, login time, and background payments.
*   [**Blockstream Green Android v4.1.8**](https://github.com/Blockstream/green_android/releases) has added language preference in App Settings and enables an Android data backup option for disaster recovery. Additionally, it fixes issues with Jade entry point PIN timeout and Trezor passphrase input.
*   [**Torq v2.2.2**](https://github.com/lncapital/torq/releases/tag/v2.2.2), an advanced Lightning node management software designed to handle large nodes with over 1000 channels, fixes bugs that caused channel balance to not be updated in some cases and channel "peer total local balance" not getting updated.
*   [**Stack Wallet v2.1.12**](https://github.com/cypherstack/stack_wallet/releases/tag/build_226), a multicoin wallet by _Cypher Stack_, fixes an issue with Xelis introduced in the latest release for Windows.
*   [**ESP-Miner-NerdQAxePlus v1.0.29.1**](https://github.com/shufps/ESP-Miner-NerdQAxePlus/releases), a forked version from the NerdAxe miner that was modified for use on the [NerdQAxe+](https://github.com/shufps/qaxe), is now available.
*   [**Zark**](https://gitlab.com/1440000bytes/zark) enables sending sats to an npub using [Bark](https://codeberg.org/ark-bitcoin/bark).

![Good Morning, Bitcoin - Tuesday, April 22nd, 2025](https://www.nobsbitcoin.com/content/images/2025/04/image-37.png)

*   [**Erk**](https://blog.second.tech/erk-update/) is a novel variation of the Ark protocol that completely removes the need for user interactivity in rounds, addressing one of Ark's key limitations: the requirement for users to come online before their VTXOs expire.
*   [**Aegis v0.1.1**](https://nostr.band/note1ljdczm267y648fv3jwv2jwn3mu4ae6jyzzpq4v0h8cthf020lyyss9ymde) is now available. It is a Nostr event signer app for iOS devices.
*   [**Nostash**](https://github.com/tyiu/nostash) is a NIP-07 Nostr signing extension for Safari. It is a fork of [Nostore](https://github.com/ursuscamp/nostore) and is maintained by [_Terry Yiu_](https://njump.me/nevent1qqsx028h0k8vfqge897kcapvgplymm8grx8wchhssza4gm4csrj3wggzyqnhnu7e7sk8mmsh7rnteh8cn28e6kfdr83mrw7j0mcullg607vdz7ytpj2)_._ Available on iOS [TestFlight](https://testflight.apple.com/join/8TFMZbMs).
*   [**Amber v3.2.8**](https://github.com/greenart7c3/Amber/releases/tag/v3.2.8), a Nostr event signer for Android, delivers the latest fixes and improvements.
*   [**Nostur v1.20.0**](https://github.com/nostur-com/nostur-ios-public), a Nostr client for iOS, adds


A short note: Gm fam 🫂👋🏻
Last early start at the fiat mine th...

Gm fam 🫂👋🏻
Last early start at the fiat mine this week. Got a half day today and a full day holiday tomorrow.

It's been a frantic few weeks so looking forward to the down time.

Have a good one yall 👍🏻

#uk #bruts #weekend #Chilli


Block 912039

2 - high priority
1 - medium priority
1 - low priority
1 - no priority
1 - purging

#bitcoinfees #mempool


It's launch day!!! Damus is now available on all platforms with Android ready to download! Thanks to everyone who has contributed, tested, and waited patiently for this release. We can't wait to hear what you think! https://damus.io/android/

https://damus.io/damus-android/android_video/master.m3u8


"I don't vote. Like you actually believe that makes a difference?... please tell me who I vote for that doesn't murder the brown people." - nostr:nprofile1qythwumn8ghj7ct5d3shxtnwdaehgu3wd3skuep0qy0hwumn8ghj7cnfw33k76twd4shs6tdv9kxjum5wvhx7mnvd9hx2qpqhk0tv47ztd8kekngsuwwycje68umccjzqjr7xgjfqkm8ffcs53dqr23eea
https://v.nostr.build/gAnYEw4eLgSrhWQc.mp4
https://youtu.be/tIVriDqKsFA


e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e


@anon7857 i have a feeling you gonna get scammed soon


Primal is kyc

Cash app is kyc

Strike is kyc

Zeus is no kyc

Minibits is no kyc

Blockstream jade is no kyc

Imo

We need to start shitting harder on the 🤡 clowns offering kyc products to the market

Both jacks

Are on Nostr and into bitcoin

They know better

But they are making tons of money with kyc bull shit

Jack d
And jack m

Y’all are doing a lot of things right

But quit with the kyc bull shit please 🙏


e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e


![KYC Bitcoin: Individuals are on Lists](https://www.discreetlog.com/content/images/2023/02/binancekycleak.webp)

**_What is KYC/AML?_**

*   The acronym stands for Know Your Customer / Anti Money Laundering.
*   In practice it stands for the surveillance measures companies are often compelled to take against their customers by financial regulators.
*   Methods differ but often include: Passport Scans, Driver License Uploads, Social Security Numbers, Home Address, Phone Number, Face Scans.
*   Bitcoin companies will also store all withdrawal and deposit addresses which can then be used to track bitcoin transactions on the bitcoin block chain.
*   This data is then stored and shared. Regulations often require companies to hold this information for a set number of years but in practice users should assume this data will be held indefinitely. Data is often stored insecurely, which results in frequent [hacks and leaks](https://www.newsweek.com/binance-hack-telegram-kyc-data-extortion-changpeng-zhao-cryptocurrency-bitcoin-1452989?ref=discreetlog.com).
*   KYC/AML data collection puts all honest users at risk of theft, extortion, and persecution while being ineffective at stopping crime. Criminals often use [counterfeit, bought, or stolen](https://www.coindesk.com/policy/2021/10/19/for-200-you-can-trade-crypto-with-a-fake-id/?ref=discreetlog.com) credentials to get around the requirements. Criminals can buy "verified" accounts for as [little as $200](https://www.coindesk.com/policy/2021/10/19/for-200-you-can-trade-crypto-with-a-fake-id/?ref=discreetlog.com). Furthermore, billions of people are excluded from financial services as a result of KYC/AML requirements.

During the early days of bitcoin most services did not require this sensitive user data, but as adoption increased so did the surveillance measures. At this point, **most large bitcoin companies are collecting and storing massive lists of bitcoiners, our sensitive personal information, and our transaction history.**

**Lists of Bitcoiners**

KYC/AML policies are a direct attack on bitcoiners. Lists of bitcoiners and our transaction history will inevitably be used against us.

Once you are on a list with your bitcoin transaction history that record will always exist. Generally speaking, tracking bitcoin is based on probability analysis of ownership change. Surveillance firms use various heuristics to determine if you are sending bitcoin to yourself or if ownership is actually changing hands.  You can obtain better privacy going forward by using collaborative transactions such as coinjoin to break this probability analysis.

Fortunately, you can buy bitcoin without providing intimate personal information. Tools such as [peach](https://peachbitcoin.com/?ref=discreetlog.com), [hodlhodl](https://hodlhodl.com/?ref=discreetlog.com), [robosats](https://learn.robosats.com/?ref=discreetlog.com), [azteco](https://azte.co/?ref=discreetlog.com) and [bisq](https://bisq.network/?ref=discreetlog.com) help; mining is also a solid option: anyone can plug a miner into power and internet and earn bitcoin by mining privately.

You can also earn bitcoin by providing goods and/or services that can be purchased with bitcoin. Long term, circular economies will mitigate this threat: most people will not buy bitcoin - they will earn bitcoin - most people will not sell bitcoin - they will spend bitcoin.

**There is no such thing as KYC or No KYC bitcoin, there are bitcoiners on lists and those that are not on lists.**

* * *

_**If you found this post helpful support my work with [bitcoin](https://geyser.fund/project/citadel?ref=discreetlog.com).**_

![KYC Bitcoin: Individuals are on Lists](https://werunbtc.com/donate.png)


![Patriot Act 2.0](https://www.discreetlog.com/content/images/2023/03/restrictact.webp)

The newly proposed RESTRICT ACT - is being advertised as a TikTok Ban, but is much broader than that, carries a $1M Fine and up to 20 years in prison! It is unconstitutional and would create massive legal restrictions on the open source movement and free speech throughout the internet.

The [Bill](https://www.warner.senate.gov/public/_cache/files/3/f/3f2eaae6-09ad-49e1-b254-46289cf20cca/843D73B1823EA0D4122B4365262410D6.restrict-act-final-text.pdf?ref=discreetlog.com) was proposed by: Senator Warner, Senator Thune, Senator Baldwin, Senator Fischer, Senator Manchin, Senator Moran, Senator Bennet, Senator Sullivan, Senator Gillibrand, Senator Collins, Senator Heinrich, and Senator Romney. It has broad support across Senators of both parties.

Corrupt politicians will not protect us. They are part of the problem. We must build, support, and learn how to use censorship resistant tools in order to defend our natural rights.

> The RESTRICT Act, introduced by Senators Warner and Thune, aims to block or disrupt transactions and financial holdings involving foreign adversaries that pose risks to national security. Although the primary targets of this legislation are companies like Tik-Tok, the language of the bill could potentially be used to block or disrupt cryptocurrency transactions and, in extreme cases, block Americans’ access to open source tools or protocols like Bitcoin.

> The Act creates a redundant regime paralleling OFAC without clear justification, it significantly limits the ability for injured parties to challenge actions raising due process concerns, and unlike OFAC it lacks any carve-out for protected speech. [COINCENTER ON THE RESTRICT ACT](https://www.coincenter.org/the-restrict-act-creates-blanket-authority-with-few-checks-to-ban-just-about-anything-linked-to-a-foreign-adversary/?ref=discreetlog.com)

[**Full Text of Bill**](https://www.warner.senate.gov/public/_cache/files/3/f/3f2eaae6-09ad-49e1-b254-46289cf20cca/843D73B1823EA0D4122B4365262410D6.restrict-act-final-text.pdf?ref=discreetlog.com)

* * *

_**If you found this post helpful support my work with [bitcoin](https://geyser.fund/project/citadel?ref=discreetlog.com).**_

![Patriot Act 2.0](https://werunbtc.com/donate.png)


> ![Money Without Trust](https://www.discreetlog.com/content/images/2023/03/rdogs.webp)
>
> Bank run on every crypto bank then bank run on every "real" bank.
>
> — ODELL (@ODELL) [December 14, 2022](https://twitter.com/ODELL/status/1602838429447999491?ref_src=twsrc%5Etfw&ref=discreetlog.com)

The four main banks of bitcoin and “crypto” are Signature, Prime Trust, Silvergate, and Silicon Valley Bank. Prime Trust does not custody funds themselves but rather maintains deposit accounts at BMO Harris Bank, Cross River, Lexicon Bank, MVB Bank, and Signature Bank. Silvergate and Silicon Valley Bank have already stopped withdrawals. **More banks will go down before the chaos stops. None of them have sufficient reserves to meet withdrawals.**

Bitcoin gives us all the ability to opt out of a system that has massive layers of counterparty risk built in, years of cheap money and broken incentives have layered risk on top of risk throughout the entire global economy. If you thought the FTX bank run was painful to watch, I have bad news for you: every major bank in the world is fractional reserve. **Bitcoin held in self custody is unique in its lack of counterparty risk, as global market chaos unwinds this will become much more obvious.**

The rules of bitcoin are extremely hard to change by design. Anyone can access the network directly without a trusted third party by using their own node. Owning more bitcoin does not give you more control over the network with all participants on equal footing.

> _Bitcoin is:
> \- money that is not controlled by a company or government
> \- money that can be spent or saved without permission
> \- money that is provably scarce and should increase in purchasing power with adoption_

**Bitcoin is money without trust.** Whether you are a nation state, corporation, or an individual, you can use bitcoin to spend or save without permission. Social media will accelerate the already deteriorating trust in our institutions and as this trust continues to crumble the value of trust minimized money will become obvious. **As adoption increases so should the purchasing power of bitcoin.**

> _A quick note on "stablecoins," such as USDC - it is important to remember that they rely on trusted custodians. They have the same risk as funds held directly in bank accounts with additional counterparty risk on top. The trusted custodians can be pressured by gov, exit scam, or caught up in fraud. Funds can and will be frozen at will. **This is a distinctly different trust model than bitcoin, which is a native bearer token that does not rely on any centralized entity or custodian.**_

Most bitcoin exchanges have exposure to these failing banks. Expect more chaos and confusion as this all unwinds. Withdraw any bitcoin to your own wallet ASAP.

Simple Self Custody Guide: [https://werunbtc.com/muun](https://t.co/J61rFmeovE?ref=discreetlog.com)
More Secure Cold Storage Guide: [https://werunbtc.com/coldcard](https://t.co/LMTDzJ86Ec?ref=discreetlog.com)

* * *

_**If you found this post helpful support my work with [bitcoin](https://geyser.fund/project/citadel?ref=discreetlog.com).**_

![Money Without Trust](https://werunbtc.com/donate.png)


> ![Nostr: A Revolutionary Communication Protocol](https://www.discreetlog.com/content/images/2023/04/nostr.webp)
>
> [@matt\_odell](https://twitter.com/MATT_ODELL?ref_src=twsrc%5Etfw&ref=discreetlog.com) don't you even dare not ask about nostr!
>
> — Kukks (Andrew Camilleri) (@MrKukks) [May 18, 2021](https://twitter.com/MrKukks/status/1394638825675177986?ref_src=twsrc%5Etfw&ref=discreetlog.com)

Nostr first hit my radar spring 2021: created by fellow bitcoiner and friend, [fiatjaf](https://twitter.com/fiatjaf?ref=discreetlog.com), and [released](https://github.com/nostr-protocol/nostr?ref=discreetlog.com) to the world as free open source software. I was fortunate to be able to host a [conversation with him on Citadel Dispatch](https://www.podpage.com/citadeldispatch/cd63-building-nostr-a-censorship-resistant-alternative-to-twitter-with-fiatjaf-jb55-and-mrkukks/?ref=discreetlog.com) in those early days, capturing that moment in history forever. Since then, the protocol has seen explosive viral organic growth as individuals around the world have contributed their time and energy to build out the protocol and the surrounding ecosystem due to the clear need for better communication tools.

_**nostr is to twitter as bitcoin is to paypal**_

As an intro to nostr, let us start with a metaphor:

_**twitter is paypal** - a centralized platform plagued by censorship but has the benefit of established network effects_

_**nostr is bitcoin** - an open protocol that is censorship resistant and robust but requires an organic adoption phase_

**Nostr is an open communication protocol that can be used to send messages across a distributed set of relays in a censorship resistant and robust way.
** - Anyone can run a relay.
 - Anyone can interact with the protocol.
 - Relays can choose which messages they want to relay.
 - Users are identified by a simple public private key pair that they can generate themselves.

Nostr is often compared to twitter since there are nostr clients that emulate twitter functionality and user interface but that is merely one application of the protocol. **Nostr is so much more than a mere twitter competitor.** Nostr clients and relays can transmit a wide variety of data and clients can choose how to display that information to users. The result is a revolution in communication with implications that are difficult for any of us to truly comprehend.

Similar to bitcoin, nostr is an open and permissionless protocol. **No person, company, or government controls it.** Anyone can iterate and build on top of nostr without permission. Together, bitcoin and nostr are incredibly complementary freedom tech tools: censorship resistant, permissionless, robust, and interoperable - money and speech protected by code and incentives, not laws.

As censorship throughout the world continues to escalate, freedom tech provides hope for individuals around the world who refuse to accept the status quo. This movement will succeed on the shoulders of those who choose to stand up and contribute. We will build our own path. A brighter path.

* * *

**My Nostr Public Key:** [npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx](https://primal.net/odell?ref=discreetlog.com)

* * *

_**If you found this post helpful support my work with [bitcoin](https://geyser.fund/project/citadel?ref=discreetlog.com).**_

![Nostr: A Revolutionary Communication Protocol](https://werunbtc.com/donate.png)


Tuur Demeester reveals why Bitcoin is evolving into the world’s default collateral and explains how much BTC investors may need to retire securely in an inflationary era.

Key Takeaways
-------------

![TFTC - Bitcoin Expert REVEALS The Exact Amount of BTC You Need to Retire | Tuur Demeester](https://www.tftc.io/content/images/2025/08/Tuur-Demeester.webp)

Tuur Demeester argues that Bitcoin is entering a new phase as pristine collateral, driving longer and less volatile cycles while drawing capital away from bonds, real estate, and gold. Inflation running 10–15%, deficits above Great Depression levels, and rising institutional adoption make Bitcoin both a hedge and a generational wealth vehicle. He recommends allocations ranging from 5% as “insurance” to 20–50% for those seeking early retirement, stressing discipline in holding through volatility and secure custody via multi-sig. With millennials priced out of housing and sovereign adoption rising, Bitcoin is steadily evolving into the cornerstone of a fairer, more resilient monetary order.

Best Quotes
-----------

“Bitcoin as pristine collateral really sees its day.”

“As an asset class matures, it should get less volatile over time and we should have longer cycles.”

“Real inflation rates are somewhere between 10 and 15% for the dollar.”

“Adding just a little bit of Bitcoin all of a sudden changes the behavior of your entire portfolio.”

“Think about an amount that no matter what, you can hold for five years, even if it crashes 80 or 90%.”

“It’s very easy to imagine another 4x from here, or even a 10x.”

“If you’re a millennial priced out of housing, why not rent and own Bitcoin instead?”

“One kilogram of gold has been Bitcoin’s resistance for years. Eleven kilograms is the next magnet.”

“With AI, social hacks are increasing by an order of magnitude. Multi-sig isn’t optional anymore.”

“Bitcoin retools monetary energy into a force for peace, scarce, incorruptible money that protects families across time.”

Conclusion
----------

Demeester’s analysis frames Bitcoin as more than a speculative asset, it is becoming the system’s default collateral and a practical hedge against fiat debasement. Whether used to preserve wealth, accelerate retirement, or provide financial freedom in nations under monetary stress, Bitcoin’s trajectory reflects growing institutional trust and individual adoption. With longer cycles, stronger fundamentals, and increasing global relevance, it is steadily transforming into the backbone of a new monetary era.

Timestamps
----------

0:00 - Intro
1:09 - Proto Rig and bull markets
5:33 - Tuur's new report
7:59 - On chain data
11:01 - Change in cycles and Mark Hart principles
17:05 - Bitkey & Opportunity Cost
18:44 - Pristine collateral
22:16 - Global macro
25:08 - Bitcoin/gold
31:25 - Unchained
32:11 - BTC treasury companies
41:25 - Bitcoin/commodities
49:57 - Real estate/commodities
54:12 - Banking consolidation & bitcoin backing
1:17:34 - Allocation strategies

Transcript
----------

(00:00) If you're thinking about reducing the age of retirement, you could consider 20 to 50% of your assets invested in Bitcoin. If you have more risk appetite, you can still stay in Bitcoin. You go to the treasury companies. It turns into a mania. And we had new treasury companies launching, buying stock in other treasury companies.
(00:18) And it's very easy to imagine another 4x from here or even a 10x. People are like, "No, Bitcoin couldn't be worth more than all the gold in the world." And of course, you and I think, well, of course it can. The money printing is not going away. It's probably likely to increase from here. Those are numbers higher than the Great Depression. You can see that we're in a bull market.
(00:33) If you look at what the whales are doing, they are moving some coins. As an asset class matures, it should get less volatile over time and we should have longer cycles. This is the cycle where Bitcoin has pristine collateral really sees its day. With the Bitcoin strategy companies, we're seeing that kind of on steroids.
(00:53) You used to be able to borrow $40 for every $100 worth of Micro Strategy stock. Now all of a sudden, you have to put up 20x overcolateralization. Now, if we have another crash, everybody is assuming bailouts, stagflation, that that's the decade that we're in. It's like a dead horse. Like, you can pump adrenaline into it all you want, but it's dead.
(01:14) How do you compete with Bitcoin, you know? It's just tur turo. Oh, how the tables have turned. You're sitting in a a seat that I dearly miss. Oh, yes. You're the one who's being grilled today. I don't I don't know if I could take a grilling today. It's been a long travel day. It's a good one. Yeah. And and I got Logan here in my corner, so he he's going to like slip me those uh those questions, the uncomfortable questions to ask.
(01:38) You you'll find that he's not very helpful in that regard. He's uh he he he just puts that I'm kidding, Logan. I'm kidding. Very helpful. If you have if you have hard-hitting questions for me that you want to pass to Tur, make sure you do it. He's he's already doing it in like sign language. We we got this thing going.
(01:56) H it's a great way to end a week. I'm happy that uh I know my flight was a little delayed. Uh as I was telling you, might as well tell the audience audience too. I'm getting back from Georgia where Blocks uh proto team, their proto mining team unveiled their Bitcoin mining rig called the rig and their fleet software.
(02:17) It was a really good event. really good day for Bitcoin I think as somebody's been in the mining industry and I think it's been a bullish week overall uh not only the proto mining event but we had Baltic Honeybadger conference where the ARC second layer protocol is being tested out um with the BTC pay server merchants went swimmingly. Wow, that's awesome. I've heard great things about ARC.
(02:42) So yeah, I'm I'm curious to learn more. Yeah. So, this is like on the tech side. Obviously, a lot of people are focused on Bitcoin treasury companies, what's happening on Capitol Hill, which I'm sure we'll touch on in this discussion, but just like set up this discussion, like I'm incredibly bullish, uh, particularly having seen what I saw this week in person and observing what was going on in other parts of the world.
(03:12) and not my bullish for the those reasons, but you've done something that you haven't done and you're how long you've been writing reports for Adamant. Did you start in 2012 or 2013? I I chose the adamant name back in early 2015. So, the first report was Yeah. like April 2015 or something. Okay. So, it's 10 years. Yep. Yep. and and historically whenever you've written a report, it's been in the depths of the bare market and you have a a very uh phenomenal way of releasing your reports right when the price seems to hit a hit a local bottom. Yeah, I start writing when I feel sick and I usually publish right around the
(03:49) time when I'm starting to feel better and uh that that's worked out well. um sick in the sense that I feel like I'm so bullish and that the the market is just so despondent and just doesn't care anymore and that that's usually the motivation. But yeah, so this time around it felt like I it is a little bit similar only in the sense that I think I still I disagree with the market.
(04:23) I'm just seeing a lot of people that are like, well, they're just not very bullish, you know, and I I'm like, what what's happening? Like you guys, retail is like nowhere to be seen. I think like I'm starting to feel like some friends and family like for the first time now that we're really at new all-time highs, but but that's not a exuberance uh indicator to me. That's just the beginning of public participation to me.
(04:49) So, felt like a good time to, you know, uh, revise the report cuz it's been 2 years since, uh, my last report, uh, which I think was like, what was it? April, April or May 2023. Mhm. I think it was like $27,000 Bitcoin. And the one of the one of the price targets was like, hey, we think this is going to go to 120,000 and beyond.
(05:12) So, now we hit 120. So, that also felt like a good time to to um yeah, just look at the report again and and reissue it. Uh it's not a complete rewrite, but the significant parts I I just, you know, I I like pulled out entire things and I I plugged in new parts that were just completely updated. Yeah.
(05:37) So, let's jump into it cuz I feel like I have the same feeling where even though we're what $7,000 give or take away from all-time highs which were hit earlier this week, people are somewhat bearish in my mind. I don't think I think uh despite the fact that Bitcoin is up massively over the last two years since you uh wrote the original version of this report, we're up 100% 103% in the last year.
(06:04) And if you go back to May 2023 when you wrote the first version, we were hovering around 26,000. So up almost 5x from there, a 6 6x uh 6 1/2x from there. So a 6 and a half return and yet people are still bearish which is fascinating um considering all the tailwinds that we have at our backs right now.
(06:34) But you wrote a 23page report um released it with adamant and unchained. And so what did you feel was most necessary to revise and remind people of at this point in the cycle? Yeah, the the revising I felt like the global macro picture has changed, you know, not fundamentally, but the numbers are different. Uh I think it's more clear where we're going. I think inflation is really ahead.
(07:01) It's already happening. I think we're real inflation rates are somewhere between 10 and 15% for the dollar. So it means like you know we have a every year it's losing 10 to 15% in value. Um and uh and and at the same time we have a lot more regulatory clarity. So we have a very kind of pro- Bitcoin administration which uh was not the case back when I wrote the report.
(07:27) Uh I don't think the ETFs had even dropped yet when No, they hadn't when uh the report was published. And then I think the nation state ado


Marty's Bent
------------

![Fund Managers Are Still Missing Bitcoin From The Sidelines](https://www.tftc.io/content/images/2025/08/Screenshot-2025-08-17-at-11.48.05---AM.png)

![Fund Managers Are Still Missing Bitcoin From The Sidelines](https://www.tftc.io/content/images/2025/08/image.png)

![Fund Managers Are Still Missing Bitcoin From The Sidelines](https://www.tftc.io/content/images/2025/08/martybent_a_group_of_wall_street_fund_managers_out_to_a_fancy_l_d398d7c0-f870-4a61-83c8-a82967e1f9b0.png)

Global fund managers are still woefully underweight bitcoin exposure. A recent Bank of America survey, shared and dissected by Zerohedge over the weekend, found that only 9% of managers that responded have any exposure to bitcoin, with 75% reporting that they have zero exposure to the best performing asset of the last 16 years. The weighted average of exposure across the funds that were surveyed is 0.3% of their total assets. In comparison, 48% of the same cohort has an allocation to gold with a 2.2% weighted average allocation.

Read another way: you are still very early.

For some reason, large asset managers are completely missing the monetary revolution unfolding right before their eyes. I want to point out two things with this fact in mind; despite this, the bitcoin ETFs have had the most successful launch in ETF history by breaking speed to _x_ AUM records with ease, and comping the exposure to bitcoin these managers should have to gold is a mistake.

The first point highlights the fact that much of the price movement over the past year has actually been more retail driven than many expect. This time around it's just retail investors with brokerage accounts that were waiting for the proper vehicles to get exposure. Many ETF analysts have estimated that bitcoin ETF flows have been dominated by this type of investor, with up to 75% of the flows since these ETFs launched coming from this cohort. This makes sense when you consider the fact that many wealth managers still have non-solicitation rules in place, which means they can't actively market bitcoin ETFs to their clients, they can only allocate when a client demands it.

That is changing as we speak and you can bet your ass that a flood of managers will be hitting the pavement hard to sell products that get their clients exposure to the best performing asset of all time. It basically sells itself. The flows from this marketing campaign will likely be material.

On the second point, I think it is important to not anchor to the allocations of their total portfolios that the managers surveyed by Bank of America have to gold, or the fact that it was only 48% of managers surveyed. Since bitcoin is still in its monetization phase, more risk-averse managers will likely have a lower overall allocation because it's easier to make up for a lack of exposure with outsized performance, which bitcoin can provide against gold at this point of its lifecycle. Conversely, there will be managers who like risk and want to clobber their peers with out performance, so they could allocate more than their peers would deem appropriate. Lastly, gold has been around for thousands of years and is analog bitcoin. I think it is important to recognize that bitcoin is a digital beast that comes with different and superior properties to gold that can create a lot more value on top of the network.

Smart contracts, liquid collateral, payments infrastructure, and a tight connection with the energy sector, among many other things.

It will be interesting to see when these managers actually wake up and recognize that they need to begin taking bitcoin seriously. As we said last year, for the first 15-years of bitcoin's existence the associated career risk was with being allocated to it at all. We are now firmly living in a period where that career risk has flipped. If you're not allocated you will be called an idiot. Those who move sooner will be deemed less stupid than the laggards.

### Bitcoin's Path to Gold Parity: The Next Major Milestone

Tuur Demeester presents a compelling case for Bitcoin reaching gold parity at 11 kilograms per coin. He highlights how Bitcoin has been consolidating at the 1 kilogram level for nearly five years, following a historical pattern of breaking through psychological gold ratios - first at 1 ounce, then 100 grams, and now approaching the next major milestone. This isn't just about round numbers; it represents a fundamental shift in how markets value digital scarcity versus physical assets.

> "Gold parity could be the next magnet. It doesn't mean it's gonna stick there, but at least it'll be the psychological pull for this cycle." - [Tuur Demeester](https://x.com/TuurDemeester?ref=tftc.io)

The convergence of the $1 million price target with gold parity creates a powerful narrative. As Tuur emphasizes, Bitcoin's superior properties - instant global transferability, perfect divisibility, and programmable features - position it to eventually surpass gold's $13 trillion market cap. This psychological barrier represents the market's final admission that digital monetary technology has superseded precious metals.

Check out the [full podcast here](https://youtu.be/bi9iMEetMK4?ref=tftc.io) for more on treasury companies as collateral, stagflation's impact on real estate, and Bitcoin's extended cycle dynamics.

* * *

### Headlines of the Day

Vancouver Proposes Bitcoin Miners to Heat Pool - via [X](https://x.com/TFTC21/status/1957540402598469953?ref=tftc.io)

China Merchants Bank Launches 24/7 Bitcoin Trading - via [X](https://x.com/TFTC21/status/1957517462666375526?ref=tftc.io)

WiseLink Adopts Bitcoin Treasury Strategy - via [X](https://x.com/BitcoinNewsCom/status/1957509300034670839?ref=tftc.io)

Reborn Coffee Explores Bitcoin Treasury Integration - via [X](https://x.com/TFTC21/status/1957507462980116854?ref=tftc.io)

Volkswagen Singapore Accepts Bitcoin Payments - via [X](https://x.com/TFTC21/status/1957496146504679501?ref=tftc.io)

US Treasury Secretary Praises Stablecoins - via [X](https://x.com/WatcherGuru/status/1957492114960367891?ref=tftc.io)

* * *

How to Position for the Bitcoin Boom: 2025 Edition
--------------------------------------------------

Over 10,000 investors downloaded the original report calling for $120k when bitcoin was just $27k. With that price level now achieved, Tuur is back with the 2025 edition—refreshed for the bull run with new data and insights—**including Adamant Research’s latest price outlook**.

The bull run is heating up—now is the time to take it seriously.

You’ll also get exclusive access to an HD recording of Tuur Demeester’s new 30-minute video presentation, **_Charting Our Way Through Chaos_**, breaking down why this boom might be only just beginning—and what forces could push it to the next level.

[Read the first-ever mid-cycle report from Adamant Research](https://unchnd.co/45ssBVy?ref=tftc.io)

[![Fund Managers Are Still Missing Bitcoin From The Sidelines](https://www.tftc.io/content/images/2025/08/D1--9-.png)](https://unchnd.co/45ssBVy?ref=tftc.io)

[Download Here](https://unchnd.co/45ssBVy?ref=tftc.io)

* * *

_Ten31, the largest bitcoin-focused investor, has deployed $200M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at_ [ten31.vc/invest](https://ten31.vc/invest?ref=tftc.io)_._

* * *

**Final thought...**

The "screw em" mentality is a good one to have.

* * *

_Download our free browser extension, **Opportunity Cost**:_ [https://www.opportunitycost.app/](https://www.opportunitycost.app/?ref=tftc.io) start thinking in SATS today.

_Get this newsletter sent to your inbox daily:_ [_https://www.tftc.io/bitcoin-brief/_](https://www.tftc.io/bitcoin-brief/)

_Subscribe to our YouTube channels and follow us on Nostr and X:_

 @media screen and (max-width: 480px) { .mobile-padding { padding: 10px 0 !important; } .social-container { width: 100% !important; max-width: 260px !important; } .social-icon { padding: 0 !important; } .social-icon img { height: 32px !important; width: 32px !important; } .icon-cell { padding: 0 4px !important; } } .mj-column-per-33-333333333333336 { width: 25% !important; max-width: 25%; } .moz-text-html .mj-column-per-33-333333333333336 { width: 25% !important; max-width: 25%; } /\* Helps with rendering in various email clients \*/ body { margin: 0 !important; padding: 0 !important; -webkit-text-size-adjust: 100% !important; -ms-text-size-adjust: 100% !important; } img { -ms-interpolation-mode: bicubic; } /\* Prevents Gmail from changing the text color in email threads \*/ .im { color: inherit !important; }

[![Fund Managers Are Still Missing Bitcoin From The Sidelines](https://www.tftc.io/content/images/2025/03/yt.png)](https://youtube.com/@TFTC?feature=shared&ref=tftc.io)

[![Fund Managers Are Still Missing Bitcoin From The Sidelines](https://www.tftc.io/content/images/2025/03/insta.png)](https://www.instagram.com/tftc.io/?ref=tftc.io)

[![Fund Managers Are Still Missing Bitcoin From The Sidelines](https://www.tftc.io/content/images/2025/03/twitter.png)](https://twitter.com/TFTC21?ref=tftc.io)

[![Fund Managers Are Still Missing Bitcoin From The Sidelines](https://www.tftc.io/content/images/2025/03/primall.png)](https://primal.net/tftc?ref=tftc.io)


e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e


e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e

e


A short note: 这个女的精神不太正常，我早就屏蔽了。。。

这个女的精神不太正常，我早就屏蔽了。。。


Damus Android is out! Congratulations to nostr:npub1xtscya34g58tk0z605fvr788k263gsu6cy9x0mhnm87echrgufzsevkk5s and the rest of the team - nostr:npub1fgz3pungsr2quse0fpjuk4c5m8fuyqx2d6a3ddqc4ek92h6hf9ns0mjeck nostr:npub1h50pnxqw9jg7dhr906fvy4mze2yzawf895jhnc3p7qmljdugm6gsrurqev nostr:npub1zafcms4xya5ap9zr7xxr0jlrtrattwlesytn2s42030lzu0dwlzqpd26k5 nostr:npub13v47pg9dxjq96an8jfev9znhm0k7ntwtlh9y335paj9kyjsjpznqzzl3l8 nostr:npub1u035wtfjf9h79r94srwljmekwrczhyq9a2760a23dpeh2ulgh09s08njfd nostr:npub1s5rq2ztdh76shy578znvympa2mzz2vjushs9mc5mwkdupewke67qeuf7u3

We are releasing with multi-language support for app strings on day 1 with the help of our amazing translators! Just tap on the gear icon in the app to change language settings. System language auto-detection, right-to-left languages, and note translations will come later. Kudos:
- Chinese (Simplified) by nostr:npub1raspu6ag9kfcw9jz0rz4z693qwmqe5sx6jdhhuvkwz5zy8rygztqnwfhd7
- Chinese (Traditional) by nostr:npub1raspu6ag9kfcw9jz0rz4z693qwmqe5sx6jdhhuvkwz5zy8rygztqnwfhd7
- French by nostr:npub1mpz30qp2gdr403t2apjzhla56fh94hs8zgznw5pp26q0tztw27dsu60pxm
- German by nostr:npub12r2xlvrjp5v0psx76frx9nauy7dyfjdxdrgw5qtg3h7lk0z2g7ksejmnwd
- Japanese by nostr:npub16lrdq99ng2q4hg5ufre5f8j0qpealp8544vq4ctn2wqyrf4tk6uqn8mfeq
- Portuguese (Brazil) by nostr:npub1gk6ufj53zcc07dt8vrnwwslr3zqs2z398808z9gaw0pl2znmacrqp5y8se
- Portuguese (Portugal) by nostr:npub1rytg3k2z248lku036nxrw0f27ea7cx92l2xrf66vyey6m6qruv8styje7n
- Spanish (Latin America) by nostr:npub1luhyzgce7qtcs6r6v00ryjxza8av8u4dzh3avg0zks38tjktnmxspxq903
- Spanish (Spain) by nostr:npub1luhyzgce7qtcs6r6v00ryjxza8av8u4dzh3avg0zks38tjktnmxspxq903
- Thai by nostr:npub1e9vcz6204fft6jxvyf0edd3a54t8n9znz007h94mmwlkqlqeulzqfjj93f

Please let us know if you have any feedback. Enjoy!

nostr:nevent1qqsvnltxuj4dtwq5h6w9yjyjsek9akv2ucput9huy7kkm72wmcmcmjqpzemhxue69uhhyetvv9ujumn0wd68ytnzv9hxgqg5waehxw309aex2mrp0yhxgctdw4eju6t0qyt8wumn8ghj7un9d3shjtnswf5k6ctv9ehx2aqzyql0mt4mrkyj867enj084n3mgx22k3239c4708qm045djfp7p5ngzqcyqqqqqqgxk7rfk


e

e

e

e

e

e

e

e


![](https://batcoinz.com/wp-content/uploads/2024/11/Screen-Shot-2024-11-19-at-2.17.17-PM-1024x906.png)

The English word “measure” comes from the Sanskrit word “maya”. Maya refers to illusion, but also the measurable world. Bitcoin is perhaps the most important freedom technology in Maya, but it is still therefore part of the matrix, the world of things, of the measurable. While we talk of “escaping the matrix” in Bitcoin, and this is true that a relative escape is achieved by learning about how a fiat monetary system inhibits freedom across a range of measures, these are not the highest freedoms, because they are still relative freedoms within Maya,

To put it another way, Bitcoin can give many freedoms. And …the highest freedoms, Bitcoin cannot give you.

No asset or technology can.

You can have all the self-custodied Bitcoin, but …

If your mind continually moves from past events, to future plans, and you are unable to have it stay anchored in the present, then you are not free.

If you get triggered, and your emotions are decided by the words of others, then you are not free.

If you get irate and frustrated whenever someone criticises bitcoin then you are not free.

If you have many unrealised desires and ambitions that you believe you need to be fulfilled before you can be content, then you are not free.

If your mind gets unsettled when events do not go the way you want without delays or imperfections etc, then you are not free.

If while maintaining money, you fear losing it in the future, then you are not free.

If you feel fear when you lose some money or resources from your life, then you are not free.

If after realising one financial goal you feel compelled to quickly set a bigger one, then you are not free.

Bitcoin contributes to freedom. But it doesn’t cause freedom Freedom over your own mind is the ultimate self-sovereignty.


The Role of Bitcoin Mining in Climate ACTION

Overview As a climatetech investor, I consider our top four climate issues that technology can help us resolve to be: 1. Remove bottlenecks to getting more renewable energy onto the Grid Accelerating the green energy transition means we must overcome these four sub-challenges: reduce interconnection queues reduce wasted solar and wind energy and cut curtailment fees reduce the 8.1 year payback period for solar and wind generation facilities raise flexible energy generation demand 2. Replace Fossil fuel based heat with electrically based heat 3. Increase the speed and profitability of R&D into new renewable energy projects 4. Urgently end three carbon-intensive practices: Use of Gas Peaker Plants, methane venting and methane flaring This paper will examine, using existing case studies and research, how Bitcoin mining could be an important catalysts for climate action in each of these four categories. Background: why the narrative on Bitcoin and the environment changed? From 2018-2022, most of the narrative on Bitcoin mining focused on negative environmental impacts. These commentaries focused on issues such as excessive emissions, water use and e-waste “per transaction”. This narrative started to shift in late 2022, and by 2024 had been replaced with a narrative that focused mainly on positive environmental externalities. There was no single factor that caused this shift. The changes were due to a combination of Better data. Earlier data relied heavily on the work of Alex de Vries. In 2023 however Sai and Vranken found significant flaws in his methodologies concerning how he measured eWaste, water consumption, energy consumption and emissions. Cambridge recently reinforced this, finding that de Vries’ eWaste estimation was overestimated by more than 1000%. Other studies such as Lei et al found fundamental flaws in his use of Bitcoin resource consumption “per transaction” (Bitcoin does not in fact consume energy or water per transaction). The greening of the Bitcoin mining network itself. In 2018-2021, Bitcoin mining did indeed use a higher fossil fuel consumption than other sectors such as the banking sector. However more recent studies show that Bitcoin mining now uses predominantly sustainably sourced power As the research community has better understood the nascent technology, more nuanced and complete studies on Bitcoin mining in academic circles has emerged. 14 of the last 16 papers on Bitcoin and energy now support the thesis that numerous positive environmental impacts arise from Bitcoin mining. Media outlets then shifted their reporting to reflect the new data. Today, the majority of sustainability magazines who cover Bitcoin mining highlight its benefits, while 85.7% of mainstream news coverage on Bitcoin mining and energy since 2023 has also been positive. This shift is covered at length in our earlier piece “Is Bitcoin good or bad for the environment?” which we would recommend that readers who are unfamiliar with the changing view in the academic community and among energy commentators read first. To date, despite the improved studies on Bitcoin mining, they have tended to appear only in academic journals which may be inaccessible to the general public or those not familiar with the idiosyncracies of how grid infrastructure or methane mitigation works. Specifically, there not yet been an evidence-based article that attempts to objectively synthesize the different ways Bitcoin supports, or could in the future support, climate action. This article makes a first humble attempt to do so, using a combination of peer reviewed research sources, case studies and Whitepapers, to come up with an overall perspective on how Bitcoin is, and could in the future, promote Climate Action. 1. Remove bottlenecks to getting more renewable energy onto the Grid Why resolving these four challenges is critical Interconnection Queues Lengthy interconnection queues delay renewable projects from connecting to the grid. Reasons for delay include old transmission infrastructure, regulatory bottlenecks, limited grid capacity, lack of financing for the renewable project, and concern from the grid operator about the impact on the grid of more intermittent power sources. These delays can be as long as 10-15 years, slowing the renewable transition, and compromising our net zero emission goals. Wasted Renewable Energy and Curtailment Intermittent renewable generation often exceeds grid demand, forcing renewable operators to curtail excess energy. Curtailment can have far-reaching consequences, impacting not only the financial viability of renewable projects but also grid stability. It also hurts economically, with added costs often being handed on to consumers, because the grid operator must often pay the renewable generator a fee for not being able to take their energy. Australia for example is currently wasting 25% of all renewable energy. Such waste not only hurts economically, it slows down the renewable transition both directly and indirectly: directly by reducing the profitability and therefore the expansion-speed of renewable operators, and indirectly by giving fuel to opponents of renewable energy to question the viability of the renewable transition itself. Create more demand-side flexibility Variable Renewable Energy such as solar and wind generation require electrical grids to balance variable supply with adaptable demand. Lack of flexible demand (industries that can adjust usage) or demand response programs results in grid instability, making it harder to justify expanding renewables without risking grid reliability. Flexible consumers provide grid operators with the confidence to be able to increase the amount of variable renewable energy generation on a grid, knowing they have a demand-side shock-absorber in place. Long Payback Periods for Solar/Wind Facilities High upfront costs and slow returns (often 8–10+ years) limit cash flow for reinvestment. Extended payback periods deter investors and slow the scaling of renewable projects, delaying the transition from fossil fuels. How Bitcoin mining alleviates each renewable grid transition challenges By acting as a flexible, location-agnostic energy buyer, Bitcoin mining can reduce bottlenecks in renewable energy deployment, cut waste, and incentivize the construction of new renewable energy infrastructure. Let’s explore how Bitcoin mining achieves this through four key mechanisms: reducing interconnection queues, minimizing wasted energy, raising flexible energy demand, and shortening the payback period for renewable energy projects. 1.1 Reduce Renewable Energy Interconnection Queues One of the biggest challenges in deploying renewable energy is the lengthy interconnection queue process. In the U.S. alone, there are over 2,000 gigawatts (GW) of renewable energy projects waiting to be connected to the grid, according to the Lawrence Berkeley National Laboratory. These projects often face delays of several years due to regulatory hurdles, grid capacity constraints, and the need for costly infrastructure upgrades. Bitcoin mining can help alleviate this bottleneck by providing a flexible customer for renewable energy projects. Unlike other electricity consumers, miners can set up operations near renewable energy sites, bypassing the need for grid interconnection altogether. This allows energy producers to start generating revenue immediately, rather than waiting years for approval. For example, in West Texas, Bitcoin miners have partnered with wind farms to monetize excess energy that would otherwise be stranded due to grid constraints. In Ethiopia, the Electric Power Agency has welcomed Bitcoin miners to buy excess energy from the Grand Ethiopian Renaissance Dam (GERD), in turn, powering growth and green energy and earning the country $55M in 10 months, which they are using to build out additional transmission capacity to deliver more renewable energy The scientific community agrees: by reducing the financial and logistical barriers to renewable energy deployment, Bitcoin mining accelerates the adoption of clean energy, a finding that is supported by You et al, 2023 (Mining to Mitigation: How Bitcoin Can Support Renewable Energy Development and Climate Action) and Menati et al, 2023 (High resolution modeling and analysis of cryptocurrency mining’s impact on power grids) 1.2 Reduce Wasted Solar and Wind Energy Waste and Cut Curtailment Fees Renewable energy sources like solar and wind are inherently intermittent, meaning they generate energy only when the sun shines or the wind blows. This intermittency often leads to overproduction during peak generation periods, forcing grid operators to curtail (waste) excess energy. In 2020, California curtailed over 1.5 million megawatt-hours (MWh) of solar and wind energy—enough to power 150,000 homes for a year. This wasted energy represents lost revenue for renewable energy producers and undermines the economic viability of clean energy projects. In Texas, there have been many cases of underutilized solar or wind farms. For example In 2022 Compute North (Now US Bitcoin Corp) purchased a 280 wind farm in West Texas. The farm had been known for high curtailment fees rates when wind was produced that could not be utilized by the grid due to weak demand. By providing a guaranteed customer for that surplus wind energy, the Bitcoin facility reduced waste, ended curtailment fees, and helped stabilize the grid. Also on the ERCOT grid, when Bitcoin mining company Jiachi West began operating in Texas, they reported that renewable energy curtailment dropped by 4%, and renewable energy profitability increased by 12%. By monetizing curtailed energy, Bitcoin mining not only reduces waste but also improves the financial sustainability of renewable energy projects. 1.3 Slash the Payback Period for Solar and Wind Generation Facilities The high upfront costs of renewable energy projects often result in long payback periods, discouraging investment. According to a recent peer-reviewed study, the average payback period for solar and wind facilities is 8.1 years. However, Bitcoin mining can reduce this payback period to 3.5 years by providing a reliable and lucrative revenue stream for energy producers. But these are not just academic theoretical possibilities. Indeed academia has lagged behind a large volume of real-world projects that have already integrated Bitcoin mining with renewable energy in order to increase the payback time. For example, Deutsche Telecom, Germany’s largest telco has begun using Bitcoin mining to monetize its otherwise wasted wind and solar power. It hopes to use the increased revenue to make solar and wind production more profitable, and reinvest the profits into more renewable generation. Tepco, Japan’s largest Utility company also recently announced a project to begin using Bitcoin mining on its wasted renewable energy. It’s goal is to further reduce waste of renewable electricity by using Bitcoin mining’s time-of-day agnostic properties to use solar/wind that otherwise would have been curtailed. 1.4 Create More Demand Side Flexibility Saul Griffiths, a leading energy expert and author of Electrify: An Optimist’s Playbook for Our Clean Energy Future, argues that flexible energy demand is essential for incentivizing the construction of new renewable energy infrastructure. Unlike traditional industries, which require a constant and predictable energy supply, Bitcoin mining is highly flexible. Miners can scale their operations up or down in response to energy availability, making them ideal partners for renewable energy producers. This flexibility creates a symbiotic relationship between Bitcoin miners and renewable energy developers. For example, during periods of low energy demand (e.g., sunny afternoons or windy nights), miners can ramp up operations, providing a steady revenue stream for energy producers. Conversely, during peak demand periods, miners can power down, freeing up energy for the grid. This dynamic helps stabilize the grid and encourages the development of more renewable energy capacity. In places like Norway, where hydropower dominates the energy mix, Bitcoin miners have become key players in balancing supply and demand, ensuring that renewable energy remains profitable and scalable. By improving the economics of renewable energy projects, Bitcoin mining helps unlock the capital needed to build more solar, wind, and hydropower facilities. These real-world examples highlight how Bitcoin mining is not just a consumer of energy but a strategic partner in the global transition to a sustainable energy future. Brad Jones, former CEO of ERCOT Texas’ grid, used Bitcoin mining to stabilize the grid after winter storm Uri, saying that Bitcoin mining ‘Helps us get more renewables onto the grid” but also “helps us counterbalance the intermittency of renewables” 1.5 Summary Bitcoin mining accelerates the green energy transition by helping both grid operators and renewable generators to overcome four challenges reduce interconnection queues reduce wasted solar and wind energy and cut curtailment fees reduce the 8.1-year payback period for solar and wind generation facilities raise flexible energy generation demand While it is by no means the only technology required to solve the first two challenges, there is equally strong evidence that it is the most profitable way to reduce both solar/wind payback periods and increase the flexibility of energy consumption. Additionally, it should be noted that sustainably-powered Bitcoin mining companies are not an anomaly, but rather they are an increasing norm. Currently there are 70 sustainably powered Bitcoin mining companies. 41 of these companies use 98%+ zero-emission power sources, and a further 29 using carbon-negative sources. Collectively these mining companies have helped make Bitcoin the world’s most sustainably powered global industry (52.4% as of April 2025). Like eVs, Bitcoin is a fully electrified technology with no direct emissions. Also like eVs, Bitcoin produces secondary emissions because a portion of the power used comes from fossil fuel sources. Also like eVs it is important to remember that this power obviates a more emission-intensive predecessor: petrol and diesel transport in the case of eVs; banking services and the extractive and fossil-fuel dependent gold industry in the case of Bitcoin. 2. Replace Fossil fuel based heat with electrically based Heat Why it matters According to the IEA, 50% of all the world’s energy is used for heating. Most of that heat is fossil fuel based. In parallel to greening the grid, prominent environmental campaigners and energy experts such as Saul Griffiths in his book Electrify state that we must also electrify as many industrial processes as possible, with heating being the single largest candidate for rapid electrification. While Bitcoin mining cannot replace the intense heat of a coal furnace, there are significant amounts of other heat forms that the exhaust heat of Bitcoin miners can replace and is now replacing. The potential uses for heat from Bitcoin mining are significant and growing. Some of these are one-off applications, whereas others such as delivering district heating to 2% of Finland’s population are already operating at a significant scale. The first reported example of a commercial operation using heat recycling from Bitcoin mining was Heatmine which started using Bitcoin heat for home heating in Canada in 2018. Since then, the use of heat recycling from Bitcoin mining has rapidly expanded. Since then, the applications of heat recycling have grown significantly. Cambridge University for example recently reported that “by redirecting this heat for applications such as district heating, greenhouse cultivation, or pool heating,miners can transform a byproduct into a resource. Meanwhile the International District Energy Association in their Q3, 2025 report stated “Electrifying heat production, especially in regions with low-carbon or renewable electricity, offers one of the most direct and effective ways to reduce emissions from district heating. Using the heat generated from bitcoin mining could significantly advance this electrification, transforming digital energy infrastructure into a source of high-temperature, low-carbon heat.” source 2.1 Evidence that heat-recycling is now occuring at scale District heating and water heating: MARA is now warming a town of ~80,000 residents in Finland using heat generated from Bitcoin mining operations. This is possible through district heating which involves centrally heating water using Bitcoin mining-generated heat and distributing it through underground pipes to local buildings. Heating public swimming pools: Global News recently covered how Bitcoin mining recycled electrical heat could be used to heat a public swimming pool, while earning money for the community Residential space heating: Home heating has grown from a fledgling industry in 2021 to a competitive market in 2025 with multiple vendors offering options to heat homes using electric heaters that mine Bitcoin in parallel, including 21energy, Heatbit and D-Central. Drying Lumber requires huge amounts of energy at a constant rate, but not so high as to “cook” the wood, making it a perfect candidate for Bitcoin mining exhaust heating. This started at scale in Norway, and is now being investigated in other countries. Heating for Horticulture: Bitcoin Brabant, led by Bert de Groot, has been helping decarbonize the greenhouse industry in the Netherlands by using solar-powered Bitcoin mining to deliver heat for the greenhouses. This reduces the greenhouse industry’s reliance on natural gas. There are already many such greenhouses being heated by Bitcoin mining, and this use has the potential to scale to help industrial greenhouses wean themselves off the need for natural-gas based heating. Replacing gas heating of greenhouses is a common use of Bitcoin exhaust heat. Bitcoin Brabant is now scaling this up, using solar powered Bitcoin mining Fish farming: Meanwhile, in Germany, there’s the Green Bitcoin Farm which harvests solar energy and uses it to operate high-performance computers in the Bitcoin network. They then use the waste heat generated by the ASIC miners for drying medicinal herbs, indoor rearing of edible fish, and vertical farming. Using Bitcoin recycled heat to heat the water for fish farms is also a common use in China. 2.2 One-off applications with the potential to scale In 2023, Shelter Point Distillery in Campbell River, Canada, created the ‘world’s first sustainable digital tumbler‘ by attaching a Bitcoin miner to provide heat for the whiskey aging process. Genesis Digital Assets (GDA) launched a Bitcoin mining heat repurposing project in Norsjö, Sweden, using renewable hydro-energy. The recycled heat is used to reduce the costs of preventing snow-cleaning trucks from freezing in an area prone to harsh winters. Constellation Heating uses its Star Heater to repurpose heat to maintain pool temperatures, replacing more emission intensive techniques such as gas heating. A car and truck wash in Idaho replaced its fossil-fuel based gas heating system with a Bitcoin mining heating system, using a Fog Hashing B6 immersion tank and Bitcoin ASIC miners to generate heat. When this New York Bath House started using Bitcoin heat to heat its water, it drew attention to how common the practice of using Bitcoin mining to heat water is now becoming. 3. Lift speed and profitability of R&D into new renewable energy projects 3.1 OTEC Bitcoin mining has been responsible for reviving mothballed renewable energy technologies such as OTEC, that the Reagan administration stopped funding in the 1980s. Unlike Solar and Wind technologies which are intermittent, OTEC (Ocean Thermal Energy Technology) is able to deliver reliable baseload electricity. OTEC however suffered from a lack of funding, because it is very expensive to develop novel offshore energy generation capacity in the tropics which is grid-tethererd. In addition to the challenge that offshore wind faces in supplying power back to the grid, OTEC must also develop hurricane resistance. Nate Harmon: Hawaiian Oceanographer, Clean Energy Pioneer and CEO of OceanBit, which uses Bitcoin mining to catalyze OTEC R&D Bitcoin mining on sea barges removes these constraints by providing a consumer of OTEC energy in situ. This means that the next scale-up R&D effort for OTEC is suddenly economically viable, because the operation will not need the considerable cost of being grid-tethered and made hurricane-proof. While eventually the aim of OTEC is that it will deliver power back to the grid, Bitcoin mining is playing a critical role in catalyzing the economic viability of the scale-up phase of R&D that prior to Bitcoin mining had been mothballed since the 1980s. OceanBit, which is developing OTEC (Ocean Thermal Energy Technology) was recently profiled in Forbes Magazine. OTEC was mothballed in the 1980s for political rather than technological reasons. OceanBit aims to produce abundant baseload renewable energy. Bitcoin mining is according to CEO Nate Harnon what enabled them to dust the mothballs off OTEC and start working on making OTEC economically viable. 3.2 Renewable Microgrids Gridless Compute, a Nairobi-based startup, is tackling one of Africa’s most persistent challenges: bringing reliable, renewable energy to remote communities. Traditional microgrid projects often fail due to high upfront costs and lack of consistent demand. Gridless Compute’s innovation? Pairing solar and hydropower microgrids with Bitcoin mining to create a guaranteed, flexible energy buyer. Image Source: CNBC In this presentation, Erik Hersman, the founder of Gridless showcases how broken the energy model in Africa is, resulting in 600 Million African living without electricity, and demonstrated how Bitcoin mining is already starting to unlock untapped renewable energy resources to solve this issue. Gridless says it’s sites have already powered 8,000 homes that were without electricity: 1,200 houses in Zambia, 1,800 in Malawi and 5,000 in Kenya. Academic studies have long argued that demand flexibility is key to microgrid viability. Gridless proves this by using Bitcoin mining as a “digital battery,” monetizing surplus energy that would otherwise go unused. As CEO Erik Hersman notes, “Bitcoin mining turns stranded energy into economic lifelines.” With plans to deploy 20 microgrids across sub-Saharan Africa by 2025, Gridless is demonstrating how Bitcoin can democratize energy access while accelerating decarbonization. 3.3 Other climatetech endeavors As humans adapt to Climate Change, the challenge of getting enough drinking water to arid countries becomes an increasing challenge. There is no one solution to this challenge, but part of the solution is to improve the cost-effectiveness of desalination, which is very energy intensive. MARA, who have also pioneered Landfill Gas powered Bitcoin mining, home heating, flare-gas mitigation and wind-powered Bitcoin mining, has begun investing in improving desalination technology while concurrently using Bitcoin mining heat, rather than natural gas, to desalinate water. This results in more water desalination per dollar of energy spent. This innovation if scaled, has the potential to increase water abundance in arid countries. 4. End carbon-intensive environmental practices (Gas Peaker Plant utilization, methane venting and methane flaring) 4.1 Gas Peaker Plants Gas peaker plants, notorious for high emissions and idle-time inefficiencies, are being obviated in Texas thanks to Bitcoin mining’s demand flexibility. Following Winter Storm Uri in 2021, ERCOT CEO Brad Jones integrated Bitcoin miners into grid stability programs. By 2024, 3 GW of mining capacity participated in demand response. In a recent report from the Digital Assets Research Institute (DARI,) the data shows that Bitcoin mining has now become a critical part of Texas’ ability to scale up the concentration of renewable energy on the electrical grid to meet the needs of their population growth. The ability for Bitcoin miners to curtail usage at peak times was sown to have saved Texas taxpayers $18 Billion because ERCOT did not need to purchase highly polluting peaker plants. During extreme weather, miners power down within seconds, freeing electricity for critical needs. For instance, during the July 2023 heatwave, Texas miners curtailed 1.2 GW (equivalent to three peaker plants’ output). Peer-reviewed studies by Bruno et al. (2023) support Bitcoin mining’s ability to eliminate grid reliance on peaker plants. ERCOT’s success demonstrates that flexible load resources like Bitcoin mining are not just alternatives to peaker plants—they are superior, more cost-effective replacements that support a greater concentration of renewable energy on the grid. 4.2 Turning Landfill Methane into a Climate Asset Landfills account for 17% of global methane emissions, a gas 84x more potent than CO2. Traditional solutions, like flaring or building gas pipelines, are often impractical because very few commercial operations can co-locate next to a landfill, or prohibitively expensive due to the cost required to upgrade the grid to handle additional electricity upload. Bitcoin mining offers a breakthrough: mobile mining units can convert vented methane into electricity on-site, eliminating emissions and generating revenue. In 2023, Vespene launched its 1.6 MW landfill gas-powered Bitcoin mining operation in Marathon County, one of five Bitcoin mining companies to do so. The project will mitigate 20,000 tonnes of CO2e per year. A new study was released in 2024 demonstrating that using landfill gas (LFG) for Bitcoin mining is economically viable, sustainable, and environmentally beneficial. Meanwhile, NodalPower now conduct landfill gas powered Bitcoin mining on two separate sites. Bitcoin mining companies like NodalPower and Vespene Energy deploy modular data centers at landfills, using methane to power miners. Over the duration of a project, Municipalities earn millions in power which can be reinvested into community programs, while saving millions in flare maintenance costs. Meanwhile, the methane becomes a climate asset rather than a liability. There are currently five Bitcoin mining operations operating on landfills, who are turning trash into digital gold. It would only take 35 mid-sized venting landfills with Bitcoin-mining power-generation operations on them to take the entire Bitcoin network carbon-negative. 4.3 Ending Oilfield Flaring Gas flaring, which wastes energy while emitting the climate super-warmer methane, persists globally despite World Bank efforts to stop almost all flaring by 2030. To date we have found few ways to make good that intention, with flaring in regions including the Middle East having recently been shown to cause more toxic gases than previously feared. Bitcoin mining is increasingly recognized in independent reports to be a potential scalable solution to this problem. Cambridge’s April 2025 Bitcoin Mining Report for example called Bitcoin mining a “Potential Solution to Gas Flaring” that shows the “potential for innovation to simultaneously address environmental challenges”, estimating that Bitcoin mining was mitigating 2.2 MT of CO2e emissions per year. In North Dakota for example, Crusoe’s projects reduced flaring by 99% at partnered sites. Similarly, Upstream Data’s Canadian operations have been cutting flaring since 2017. In another example, climate tech company Unblock Global has achieved 15MW of flare gas powered bitcoin mining in Argentina. The company has a mission to eliminate flaring in Latin America and raised $15 million to use flared gas from Argentina’s Vaca Muerta, to power its operations. These are three of the 29 Bitcoin mining companies that have found a way to solve the 160-year old problem of wasted flare gas. It is for this reason that the World Economic Forum recently praised Crusoe’s Bitcoin mining operation for helping the UN in its efforts to reduce methane emissions. Yet NGOs like Sierra Club continue to reflexively dismiss measurable progress such as this as “greenwashing”, saying that any company partnering with Oil&Gas to reduce flaring is “perpetuating the profits of oil companies.” As our earlier article on Gas Flaring highlights, this argument is not only flawed, but it has arguably led to the elongation of the practice of gas flaring. Without Bitcoin mining, the alternative is continued flaring. However, by monetizing waste gas, Bitcoin mining uniquely aligns economic incentives with environmental progress. 4.4 Summary: How Bitcoin Mining helps cut methane emissions and end environmentally harmful gas dependencies These Bitcoin mining projects are neither one-offs, not small. There are 29 Bitcoin mining companies who are carbon negative that we know of (using methane emissions as their fuel source), and 3 GW of gas peaker plants (that we know of) that have been obviated as a direct result of Bitcoin mining. The combined impact of carbon-negative Bitcoin mining is that mitigation has already reached 7% of the Bitcoin network’s emissions. As mentioned above, according to the Digital Assets Research Institute, and another 35 mid-sized venting landfills is all it will take for the entire Bitcoin network to become carbon negative. Remarkable, Bitcoin mining has in the last three years demonstrated an ability to profitably and scaleably tackle all three of these thorny environmental challenges where other technologies have proven either unprofitable, unscalable or both. Remarkable, Bitcoin mining has in the last three years demonstrated an ability to profitably and scaleably tackle all three of these thorny environmental challenges where other technologies have proven either unprofitable, unscalable or both. 5. Preserving nature Monetizing wasted renewable energy not only accelerates the energy transition but also helps save nature. For example, in East Congo, lies Virunga National Park, a 7,800 Km2 terrain that’s home to half of Africa’s terrestrial species. During COVID the park was threatened with closure, having lost most of its income, and having no way to pay its staff that protected the park from poachers, and militias who cut down trees to use as charcoal for fuel due to energy shortages in the region. Park Director Emanuel de Mode stated that Virunga “would have gone bust as a national park if not for Bitcoin mining.” The jobs created through the Bitcoin mining operation also provide an alternative income for the militias currently burning down rainforest to sell charcoal. Also, within Virunga National Park lies a chocolate factory that the exhaust heat from Bitcoin mining is providing the drying for, reducing costs and helping to pay those who work there a living wage. This is not a one-off example. In Costa Rica, Bitcoin mining prevented the loss of a 60Ha of land which had been in Eduardo Kopper’s family for 5 generations, and financed its transformation into an eco-sanctuary. The model used was identical to Virunga: utilize the otherwise stranded and wasted surplus hydropower to do Bitcoin mining onsite, and reinvest that into saving the land. Critics often assume, without research, “they could have done something else with that stranded energy”. Such a view is not only naive, it also diminishes the environmental contributions of stewards of the land such as de Mode in Virunga Kenya, and Kopper in Poaz Costa Rica, neither of whom were Bitcoiners, and both who spent years researching what to do with that stranded energy before realizing that Bitcoin mining was their one available option due to its unique location-agnostic, time-of-day agnostic features. 6. The unintended consequence of uninformed criticism While in some cases Bitcoin mining companies have looked for opportunities that enhance nature, it is equally true that sometimes they have neglected it. Before late-2021, a lot of Bitcoin mining was coal-based, A Bitcoin mining operation stole considerable electricity from the grid, while another in Niagara Falls was fined for being being an excessively noisy neighbor. There have been other instances of such noise complaints also. Critics and journalists should expose genuine bad actors. When it comes to this reporting, three glaring problems stand out. Firstly, for every genuinely bad actor, there have been misreported reports of bad actors that weren’t. For example, Greenidge Generation was misreported both as opening a gas plant for Bitcoin mining, which caused toxic algal blooms in an adjacent lake (it didn’t, it opened to provide power back to the grid, and there was no elevated lake temperature). Other reports have falsely accused Bitcoin mining companies of raising Texas electricity prices, destabilizing the grid and using excessive water. These claims all turned out to be not only baseless or based on very poor data, but contradicted by studies which reveal Bitcoin mining in fact has stabilized the grid (see claim 21) and helped lower electricity prices (see claim 22) by reducing curtailment fees while raising grid operator revenues. An anti-Bitcoin reporting bias only antagonizes those in the Bitcoin mining industry towards reporters, and deflects the attention that should be given to genuinely bad actors. The second issue is that those reporting on one off examples where Bitcoin mining operations are alleged to have negatively impacted a community have tended to also take a subjective side-swipe at the entire industry. Time Magazine did this in their Feb 2024 coverage of a Bitcoin mining company’s noise levels. More recently, the Cooldown used this same recipe by adding to an otherwise accurate piece of reporting on the Thai Bitcoin operation a wholly inaccurate statement “Whether done legally or illegally, the environmental impact of cryptocurrency mining cannot be understated.” The comment is an example of a side-swipe that ignores the scientific consensus. In this instance, the article cited a comprehensively debunked outlier study on Bitcoin mining to back up the statement. Again, such statements antagonize the industry against the reporting organization, rather than keeping the focus on what may be a genuine issue worthy of examination. But the third issue is the most severe, because it doesn’t just hurt Bitcoin mining but the wider climate movement. Criticism, particularly from Environmental NGOs, without understanding of Bitcoin’s ability to end gas peaker plant reliance and substantially reduce flaring has directly contributed to the elongation of both the need for gas peaker plants, and the practice of natural gas flaring. (See linked studies for evidence of how NGO criticism of Bitcoin mining has backfired for the Climate movement). 7. The Carbon Payback Time of Climatetech It should not be trivialized that Bitcoin mining currently emits 46 Mt CO2-eq of emissions annually according to the Digital Assets Research Institute (up from the already significant 41 MT CO2e in 2021). The habit of some in the Bitcoin ecosystem of saying “But other industries omit much more” has earned the ire of some in the environmental movement and rightly so; every industry must take steps to reduce its environmental footprint. Equally, context matters: the photovoltaic (PV) industry, despite its critical role in decarbonizing energy systems, did not achieve a net-positive carbon balance until 2011—57 years after the first solar cell was invented in 1954. PV manufacturing continues to this day to rely on energy-intensive processes and coal furnaces to melt silicon during the manufacture process, however it is widely accepted that the photovoliatic industry is net emission producing, because it now reduces many times more emissions than it creates. All climatetech, including solar, has a carbon debt in the initial phase. Yet few recognize this when evaluating a nascent technology’s net environmental impact Similarly, Bitcoin’s emissions must be considered alongside its proven role in cutting methane (84x more potent than CO2), scaling renewables and other factors mentioned in this article. More importantly, like EVs, those emissions are not “additional”. By using the Bitcoin network, one is utilizing a fully electrified technology in preference to two substantially more emission intensive industries, The Banking system (as a method of transacting), and the Gold mining (as a store of value). The combination of much more careful research by critics and less trivializing of the real current-day emissions of Bitcoin mining will go a long way to ensuring Bitcoin mining realizes its full potential as a key tool of climate action. A balanced evaluation of Bitcoin mining, as with any emerging climate technology, requires assessing both its current footprint and its future potential. Just as early solar investments paved the way for today’s carbon-negative PV industry, Bitcoin mining’s ability to fund renewable infrastructure, eliminate methane emissions, and stabilize grids may ultimately yield net reductions far exceeding its operational emissions. Policymakers and environmental stakeholders must adopt this balanced lens, looking not only at current emissions but future potential. A good rule of thumb is this: if our rubric for evaluating a nascent technology’s climate impact would have resulted in solar panels being banned in the 1990s (when the photovoltaic industry created considerably more emissions than it abated), then it is likely to be a bad methodology. Conclusion: Bitcoin Mining is Tier 1 Climate Action Bitcoin mining has emerged as a linchpin for addressing four systemic barriers to climate progress, as demonstrated by both real-world data and case studies. First, Bitcoin mining directly tackles renewable energy bottlenecks. It does this by monetizing stranded power, miners reduced interconnection queues in Texas and Ethiopia, enabling wind farms like US Bitcoin Corp’s 280 MW Texas project, while cutting curtailment fees. Jaichi West for example found that just a 4% reduction of curtailment led to a 12% increase in profitability. Solar and wind payback periods, once 8.1 years, now fall to 3.5 years when paired with mining, which has led Germany’s largest Telco, Deutsche Telekom and Japan’s largest Utility, Tepco, to start utilizing Bitcoin mining for their previously wasted renewable energy. Second, Bitcoin mining replaces fossil-based heat at scale. MARA’s district heating system now warms 80,000 residents in Finland. Collectively, Bitcoin mining in Finland supplies district heat to 2% of the country’s population. Similar projects, from drying lumber in Norway to decarbonizing Dutch greenhouses (Bitcoin Brabant), prove that waste heat can displace gas-dependent processes. Third, Bitcoin mining accelerates R&D for neglected climatetech. OceanBit revived OTEC, a previously mothballed baseload renewable energy source, by using Bitcoin mining as a catalyst to bypass otherwise prohibitive R&D costs. Gridless Compute’s Kenya-based microgrids, powered by biomass and hydro paired with mining, electrified 8,000 homes across Africa and aim to deploy 20 grids by the end of 2025. Fourth, Bitcoin mining curtails methane emissions with measurable impact. Bitcoin mining collectively mitigates 3.2 million tons of CO2e annually, while Texas’ ERCOT saved taxpayers $18 billion by using 3 GW of mining demand flexibility to avoid building new fossil-fuel intensive gas peaker plants. Critics who dismiss these efforts as “greenwashing” overlook not only the sheer volume and scale at which Bitcoin mining is now measurably enabling climate action across multiple areas, but also the hard data: 61.5% of Bitcoin mining now uses >98% sustainable energy, and carbon-negative mining (29 companies) already offsets 7% of the network’s emissions. Projects like Virunga National Park—which credits Bitcoin mining for saving its 7,800 km² rainforest and funding anti-poaching and deforestation efforts—show that Bitcoin mining’s value extends beyond energy systems to biodiversity preservation. To policymakers and NGOs: the evidence is clear. Bitcoin mining is no longer a hypothetical solution—it is already resolving the grid instability issues at scale that accompany higher concentrations of solar/wind energy, electrifying parts of rural Africa, and funding OTEC breakthroughs. Rejecting Bitcoin mining’s contribution to climate action risks prolonging reliance on gas peakers, methane flaring, and methane venting. In the race to net-zero, Bitcoin mining is not optional—it’s operational. Let’s embrace it, research it, and leverage its unique ability to solve some of the toughest roadblocks en route to our Net Zero Emission goals. Footnote: Bitcoin achieves these climate outcomes while providing a number of equally numerous humanitarian benefits at an increasing scale. But that is a subject for another article.

Overview
--------

As a climatetech investor, I consider our top four climate issues that technology can help us resolve to be:

**1\. Remove bottlenecks to getting more renewable energy onto the Grid**

Accelerating the green energy transition means we must overcome these four sub-challenges:

*   reduce interconnection queues
*   reduce wasted solar and wind energy and cut curtailment fees
*   reduce the 8.1 year payback period for solar and wind generation facilities
*   raise flexible energy generation demand

**2\. Replace Fossil fuel based heat with electrically based heat**

**3\. Increase the speed and profitability of R&D into new renewable energy projects**

**4\. Urgently end three carbon-intensive practices**: Use of Gas Peaker Plants, methane venting and methane flaring

This paper will examine, using existing case studies and research, how Bitcoin mining could be an important catalysts for climate action in each of these four categories.

Background: why the narrative on Bitcoin and the environment changed?
---------------------------------------------------------------------

From 2018-2022, most of the narrative on Bitcoin mining focused on negative environmental impacts. These commentaries focused on issues such as excessive emissions, water use and e-waste “per transaction”. This narrative started to shift in late 2022, and by 2024 had been replaced with a narrative that focused mainly on positive environmental externalities.

There was no single factor that caused this shift. The changes were due to a combination of

1.  Better data. Earlier data relied heavily on the work of Alex de Vries. In 2023 however [Sai and Vranken](https://www.sciencedirect.com/science/article/pii/S2096720923000441) found significant flaws in his methodologies concerning how he measured eWaste, water consumption, energy consumption and emissions. Cambridge recently reinforced this, finding that de Vries’ eWaste estimation was overestimated by more than 1000%. Other studies such as Lei et al found fundamental flaws in his use of Bitcoin resource consumption “per transaction” (Bitcoin does not in fact consume energy or water per transaction).
2.  The [greening](https://forkast.news/bitcoin-minings-green-mile-54-5-sustainable-energy-use/) of the Bitcoin mining network itself. In 2018-2021, Bitcoin mining did indeed use a higher fossil fuel consumption than other sectors such as the banking sector. However more recent studies show that Bitcoin mining now uses predominantly sustainably sourced power
3.  As the research community has better understood the nascent technology, more nuanced and complete studies on Bitcoin mining in academic circles has emerged. [14 of the last 16 papers](https://www.linkedin.com/posts/danielsbatten_from-mining-to-mitigation-how-bitcoin-can-activity-7280429495679963136-2E-q?utm_source=share&utm_medium=member_desktop) on Bitcoin and energy now support the thesis that numerous positive environmental impacts arise from Bitcoin mining. Media outlets then shifted their reporting to reflect the new data. Today, the majority of [sustainability magazines](https://www.linkedin.com/posts/danielsbatten_bitcoin-miner-mara-buying-114-mw-wind-farm-activity-7280432749180559360-AaWO/?utm_source=share&utm_medium=member_desktop) who cover Bitcoin mining highlight its benefits, while 85.7% of [mainstream news coverage](https://www.linkedin.com/posts/danielsbatten_why-bitcoin-is-key-to-the-future-of-finance-activity-7278907968035700737-9IwO/?utm_source=share&utm_medium=member_desktop) on Bitcoin mining and energy since 2023 has also been positive.

This shift is covered at length in our earlier piece “[Is Bitcoin good or bad for the environment?](https://www.linkedin.com/pulse/bitcoin-good-bad-environment-im-confused-daniel-batten-racec/?trackingId=wax2F0yrRQ2xupf%2BsSl9bA%3D%3D)” which we would recommend that readers who are unfamiliar with the changing view in the academic community and among energy commentators read first.

To date, despite the improved studies on Bitcoin mining, they have tended to appear only in academic journals which may be inaccessible to the general public or those not familiar with the idiosyncracies of how grid infrastructure or methane mitigation works. Specifically, there not yet been an evidence-based article that attempts to objectively synthesize the different ways Bitcoin supports, or could in the future support, climate action. This article makes a first humble attempt to do so, using a combination of peer reviewed research sources, case studies and [Whitepapers](https://www.da-ri.org/science-hub), to come up with an overall perspective on how Bitcoin is, and could in the future, promote Climate Action.

![](https://batcoinz.com/wp-content/uploads/2025/01/image-5-1024x576.png)

1\. Remove bottlenecks to getting more renewable energy onto the Grid
---------------------------------------------------------------------

### Why resolving these four challenges is critical

**Interconnection Queues** Lengthy interconnection queues delay renewable projects from connecting to the grid. Reasons for delay include old transmission infrastructure, regulatory bottlenecks, limited grid capacity, lack of financing for the renewable project, and concern from the grid operator about the impact on the grid of more intermittent power sources. These delays can be [as long as 10-15 years](https://ratedpower.com/blog/UK-interconnection-delays/), slowing the renewable transition, and compromising our net zero emission goals.

**Wasted Renewable Energy and Curtailment** Intermittent renewable generation often exceeds grid demand, forcing renewable operators to curtail excess energy. Curtailment can have [far-reaching consequences](https://www.pfnexus.com/blog/what-is-curtailment), impacting not only the financial viability of renewable projects but also grid stability. It also hurts economically, with added costs often [being handed on to consumers](https://www.nature.com/articles/d41586-024-02497-0), because the grid operator must often [pay the renewable generator a fee](https://www.parallelparliament.co.uk/lord/lord-ashcombe2/bill/2024-26/greatbritishenergy) for not being able to take their energy. Australia for example is currently [wasting 25%](https://www.abc.net.au/news/2024-09-08/renewable-energy-wasted-as-australia-greens/104321770) of all renewable energy. Such waste not only hurts economically, it slows down the renewable transition both directly and indirectly: directly by reducing the profitability and therefore the expansion-speed of renewable operators, and indirectly by giving fuel to [opponents of renewable energy](https://www.britannica.com/procon/alternative-energy-debate) to question the viability of the renewable transition itself.

**Create more demand-side flexibility** Variable Renewable Energy such as solar and wind generation require electrical grids to balance variable supply with adaptable demand. Lack of flexible demand (industries that can adjust usage) or demand response programs results in grid instability, making it harder to justify expanding renewables without risking grid reliability. Flexible consumers provide grid operators with the confidence to be able to increase the amount of variable renewable energy generation on a grid, knowing they have a demand-side shock-absorber in place.

**Long Payback Periods for Solar/Wind Facilities** High upfront costs and slow returns (often 8–10+ years) limit cash flow for reinvestment. Extended payback periods deter investors and slow the scaling of renewable projects, delaying the transition from fossil fuels.

#### How Bitcoin mining alleviates each renewable grid transition challenges

By acting as a flexible, location-agnostic energy buyer, Bitcoin mining can reduce bottlenecks in renewable energy deployment, cut waste, and incentivize the construction of new renewable energy infrastructure.

Let’s explore how Bitcoin mining achieves this through four key mechanisms: reducing interconnection queues, minimizing wasted energy, raising flexible energy demand, and shortening the payback period for renewable energy projects.

### 1.1 Reduce Renewable Energy Interconnection Queues

One of the biggest challenges in deploying renewable energy is the lengthy interconnection queue process. In the U.S. alone, there are over 2,000 gigawatts (GW) of renewable energy projects waiting to be connected to the grid, according to the Lawrence Berkeley National Laboratory. These projects often face delays of several years due to regulatory hurdles, grid capacity constraints, and the need for costly infrastructure upgrades.

Bitcoin mining can help alleviate this bottleneck by providing a flexible customer for renewable energy projects. Unlike other electricity consumers, miners can set up operations near renewable energy sites, bypassing the need for grid interconnection altogether. This allows energy producers to start generating revenue immediately, rather than waiting years for approval. For example, in West Texas, Bitcoin miners have partnered with wind farms to monetize excess energy that would otherwise be stranded due to grid constraints.

In Ethiopia, the Electric Power Agency has welcomed Bitcoin miners to buy excess energy from the Grand Ethiopian Renaissance Dam (GERD), in turn, powering growth and green energy and earning the country [$55M in 10 months](https://bitcoinke.io/2024/11/bitcoin-mining-revenue-in-ethiopia/), which they are using to build out additional transmission capacity to deliver more renewable energy

The scientific community agrees: by reducing the financial and logistical barriers to renewable energy deployment, Bitcoin mining accelerates the adoption of clean energy, a finding that is supported by [You et al](https://pubs.acs.org/doi/10.1021/acssuschemeng.3c05445), 2023 _(Mining to Mitigation: How Bitcoin Can Support Renewable Energy Development and Climate Action)_ and [Menati et al](https://www.sciencedirect.