# The great Bitcoin energy debate

- Show: [Catalyst](https://hardwarepodcasts.com/podcast/catalyst)
- Published: 2023-05-11
- Length: 48m
- Page: https://hardwarepodcasts.com/podcast/catalyst/2023-05-11-the-great-bitcoin-energy-debate

## Summary

Ben Hertz-Shargel, global head of grid edge at Wood Mackenzie, explains that Bitcoin mining currently consumes 3.9 gigawatts in the US, raising retail electricity costs in Texas by approximately $1.8 billion annually and increasing emissions by 85% through the dispatch of coal and natural gas plants. He argues that while mines are flexible, they do not incentivize new renewable generation due to credit and tenor mismatches, and their demand response participation merely offsets the harm they cause. Hertz-Shargel notes that while flared gas capture is a net benefit, the broader industry represents a significant opportunity cost for the energy transition, especially as alternatives like Ethereum's proof-of-stake exist.

## Chapters

- [2:31](https://hardwarepodcasts.com/podcast/catalyst/2023-05-11-the-great-bitcoin-energy-debate#t=151) Introduction: Ben Hertz-Shargel and Wood Mackenzie
- [4:23](https://hardwarepodcasts.com/podcast/catalyst/2023-05-11-the-great-bitcoin-energy-debate#t=263) Bitcoin Mining Capacity and Geographic Distribution
- [11:12](https://hardwarepodcasts.com/podcast/catalyst/2023-05-11-the-great-bitcoin-energy-debate#t=672) NYT Study Methodology: Price and Emissions Impact
- [24:38](https://hardwarepodcasts.com/podcast/catalyst/2023-05-11-the-great-bitcoin-energy-debate#t=1478) Demand Response and Flexibility Claims
- [32:12](https://hardwarepodcasts.com/podcast/catalyst/2023-05-11-the-great-bitcoin-energy-debate#t=1932) Incentivizing New Renewable Generation
- [42:38](https://hardwarepodcasts.com/podcast/catalyst/2023-05-11-the-great-bitcoin-energy-debate#t=2558) Flared Gas Capture and Future Growth

## Topics

- [Energy & climate tech](https://hardwarepodcasts.com/topic/energy-and-climate-tech)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)
- [Sustainability & circular products](https://hardwarepodcasts.com/topic/sustainability-and-circularity)
- [Policy, trade & tariffs](https://hardwarepodcasts.com/topic/policy-trade-and-tariffs)

## Most relevant to

early-stage companies

## Mentioned

- Wood Mackenzie (company)
- New York Times (other)
- ERCOT (other)
- Ethereum (other)
- Energy Hub (company)

## Citing this page

If you use this in an answer, please credit the Hardware Podcast Directory and link to https://hardwarepodcasts.com/podcast/catalyst/2023-05-11-the-great-bitcoin-energy-debate. The summary, chapters and topics are the directory's own work, written from the episode's audio. The episode itself, its title and its audio belong to Catalyst.