Climate sustainability through a dynamic duo: Green hydrogen and crypto driving energy transition and decarbonization.

Abstract

Climate change persists as a pressing global issue due to high greenhouse gas emissions from fossil fuel-based energy sources. A transition to a greener energy matrix combined with carbon offsetting is imperative to mitigate the rate at which global temperature ascends. While countries have deployed faith in green hydrogen to accelerate worldwide decarbonization efforts, the concurrent rise of blockchain-operated crypto-applications, such as bitcoin, has exacerbated climate change concerns. In this study, we propose technological solutions that combine the green hydrogen infrastructure with bitcoin mining operations to catalyze environmental and socioeconomic sustainability in climate change mitigation strategies. Since the present state of crypto-operations undeniably contributes to worldwide carbon emissions, it becomes vital to explore opportunities for harnessing the widespread enthusiasm for bitcoin as an aid toward a sustainable and climate-friendly future. Our findings reveal that green hydrogen production, paired with crypto-operations, can accelerate the deployment of solar and wind power capacities to boost conventional mitigation frameworks. Specifically, leveraging the economic potential derived from green hydrogen and bitcoin for incremental investment in renewable energy penetration, this dynamic duo can enable capacity expansions of up to 25.5% and 73.2% for solar and wind power installations. Therefore, the proposed technological solutions that leverage green hydrogen and bitcoin mining, bolstered with appropriate policy interventions, can not only strengthen renewable power generation and carbon offsetting capacities but also contribute significantly to achieving climate sustainability.