Finger Lakes Today

Cryptocurrency mining, known for its significant carbon emissions, could find a partner in green hydrogen to aid in the transition towards sustainable energy practices. Fengqi You, the Roxanne E. and Michael J. Zak Professor in Energy Systems Engineering at Cornell Engineering, emphasized the importance of exploring opportunities to utilize cryptocurrency enthusiasm for a climate-friendly future. You and doctoral student Apoorv Lal authored a study titled “Climate Sustainability Through a Dynamic Duo: Green Hydrogen and Crypto Driving Energy Transition and Decarbonization,” published in the Proceedings of the National Academy of Sciences.

“Building a green hydrogen infrastructure to help produce cryptocurrency can accelerate renewable energy and create a more sustainable energy landscape,” Lal highlighted the potential benefits of this collaboration. The researchers proposed linking energy-intensive cryptocurrency mining with green hydrogen technology to boost renewable energy sectors.

Acknowledging the energy demands of cryptocurrency mining, You suggested an innovative solution: “By leveraging cryptocurrencies as virtual energy carriers in tandem with using green hydrogen, we can transform what was once an environmental challenge into a dynamic force for climate mitigation and sustainability.” The researchers examined individual U.S. states to assess their energy strengths and the potential for sustainable energy production.

You explained the concept of cryptocurrency and energy as virtual entities, likening them to a gift card with an energy value. He emphasized the importance of federal policies for climate goals and renewable energy in advancing a sustainable future for blockchain-based cryptocurrency. “Coupled with green hydrogen, this approach to cryptocurrency not only mitigates its own environmental impact but pioneers a sustainable path for renewable energy transition,” You stated.

The study highlights the potential for cryptocurrency to contribute to renewable energy infrastructure, with estimates suggesting significant solar and wind power generation for each Bitcoin mined in different regions. The research underscores the opportunity to harness the enthusiasm for cryptocurrency in driving sustainable energy practices and combating climate change.

Funding for this research was provided by the National Science Foundation, and You is a senior faculty fellow at the Cornell Atkinson Center for Sustainability.