World Bank: study highlights capability of Bitcoin Mining to mitigate methane emissions

The World Bank’s report on methane mitigation features a detailed case study of Crusoe Energy Systems and the ways in which the company’s mining operations reduce methane gas emissions.

Abstract:

Decarbonizing the world’s energy systems is an essential pillar of the global response to climate change. Gas flaring, the 160-year-old practice of burning the natural gas associated with oil extraction, and the related methane emissions represent as much as 12 percent of the greenhouse gases released by the global energy sector. 

With the share of energy produced by oil and gas projected to increase until 2040, urgent action must be taken to accelerate the transition to net-zero. Ending routine gas flaring and curtailing methane emissions can reduce emissions significantly, while providing millions of people with an energy source. Estimates show that all the associated gas flared across the world could power the entire Sub-Saharan Africa.

The report provides a systematic framework to evaluate the feasibility of flare reduction projects at medium-sized flaring sites. The approaches and tools developed will help policymakers and operators analyze investment barriers, identify key variables and success factors, and model financial options for those medium-sized flares that have historically been overlooked.”

Crusoe, also recently profiled by the World Economic Forum, is providing a real world and operational demonstration of the unique ability of the Bitcoin mining industry to reduce greenhouse gas emissions.

March 2022

World Bank, March 2023