The Cambridge Centre for Alternative Finance (CCAF) has released a new study titled “Bitcoin electricity consumption: an improved assessment” which has sparked conversations among crypto enthusiasts and environmentalists. Daniel Batten, a prominent climate activist and Bitcoin environmental analyst, commented on the matter, noting that the CCAF model overestimated the BTC energy demand by 16.8% in 2021, and 10.2% in 2022. He also debunked Greenpeace USA’s claim that Bitcoin used as much energy as Sweden, stating that it was based on CCAF’s historical overstatements.The CCAF report revealed that the discrepancies in their previous model were due to an overrepresentation of older devices and an underrepresentation of newer equipment. As a result, the 2021 and 2022 estimates have been revised to 89.0 TWh and 95.5 TWh respectively.Batten declared that the tide has turned in the narrative around Bitcoin & energy, citing recent acknowledgments from Cambridge, academic papers, and a KPMG report that gave Bitcoin a positive ESG rating. He cautioned, however, that misinformation still persists, particularly from outlets like the NY Times and Greenpeace USA. The full report is available at Cambridge’s official website.

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Information	Details
Geography	Global
Countries
Sentiment	positive
Relevance Score	8
People	KPMG, Columbia University., Greenpeace USA, Daniel Batten
Companies	KPMG, TradingView.com, Greenpeace USA, Cambridge Centre for Alternative Finance, Columbia University
Currencies	Ethereum, Bitcoin
Securities	None