Bitcoin mining has long been embroiled in controversy. From Greenpeace’s high-profile “Change the Code, Not the Climate” campaign to Alex DeVries’ exaggerated claims about Bitcoin’s growing “water footprint,” the media often portrays Bitcoin mining as an environmental disaster in the making. To the general public, who are genuinely concerned about preserving the environment but lack a deep understanding of Bitcoin mining, these stories are alarming. As a relatively young and seemingly complex industry, much of this misleading negative publicity sticks, while the significant societal benefits of Bitcoin mining are often ignored. This persistent nonsense has fueled a political crusade against Bitcoin mining, drawing in figures like Senator Elizabeth Warren, New York Governor Kathy Hochul, and even the European Central Bank (ECB). Senator Warren has labeled Bitcoin mining a threat to national security, Governor Hochul signed a bill into law in 2022 banning mining operations that rely on carbon-based energy, and the ECB recently described Bitcoin as a “unproductive, energy-intensive technology that has no social value and is an obstacle to the EU’s climate goals.”

Bitcoin mining not only faces a branding problem, but also risks being phased out of existence by regulation. With the stakes so high, it’s crucial to counter these misconceptions with truth in a way that the average person can understand. Enter Dirty Coin (DC), a compelling, award-winning documentary from Alana Mediavilla. I recently watched this documentary and was impressed by its thorough investigation and balanced portrayal of Bitcoin mining. Not only does it debunk the common myths, it also highlights the humanitarian impact of Bitcoin mining in both developed and emerging markets.

Are Environmentalists Wrong About Bitcoin Mining?

One of the documentary’s key takeaways is that Bitcoin mining can actually boost the development of renewable energy projects. By providing a consistent demand for electricity, mining operations can help make renewable energy projects financially viable in areas that would otherwise struggle to support them. The film takes viewers on a global journey, showcasing Bitcoin mining operations doing everything from boosting the construction of microgrids to harnessing stranded energy from landfills that emit significant amounts of methane gas.

Perhaps the most inspiring revelation in DC is how Bitcoin mining is empowering underprivileged communities around the world. In Malawi, for example, a small community is using surplus hydroelectric power to mine Bitcoin, providing a steady source of income and helping to secure their financial future. These socioeconomic benefits of Bitcoin mining are conveniently ignored by critics who view everything through the lens of “orange coin bad.”

By highlighting these success stories, DC shows that Bitcoin mining isn’t just about making money, but about leveraging technology to create real change in the world and improve lives. From the start, the hidden realities of Bitcoin mining are explored in a format that’s easy for a non-technical audience to understand. The documentary expertly weaves together interviews with energy experts, environmentalists, government officials, and miners to present a nuanced and balanced view of the industry.

The film doesn’t shy away from addressing the controversies surrounding Bitcoin mining’s alleged significant carbon footprint. It delves into the ongoing tug-of-war between New York-based Bitcoin miner Greenidge Generation (GG) and Sierra Club-backed environmentalists attempting to shut down the company’s Seneca Lake facility. As DC explores this standoff in depth, it becomes clear that the fierce opposition to GG’s mining operation is rooted in misinformation that has been repeatedly debunked. When such controversies go unchallenged, they create an environment conducive to executive actions like Governor Hochul’s, which in turn fuels hostility toward the industry as a whole. The documentary also exposes the hypocrisy of the banking industry, which openly criticizes Bitcoin as a tool for criminals while simultaneously serving creeps like Jeffrey Epstein.

Debunking Bitcoin Mining Myths

One of the most impressive aspects of DC is the way it debunks some persistent myths about Bitcoin mining.

1. Bitcoin mining is harmful to the environment
   DC directly confronts the widespread belief that Bitcoin mining is an energy-intensive, environmentally damaging practice. It highlights the fact that a significant portion of Bitcoin mining operations utilize renewable energy sources ranging from geothermal to hydro. Furthermore, by showcasing facilities that convert stranded energy, including methane from landfills, into electricity for mining, the documentary illustrates how mining actually mitigates environmental damage rather than exacerbates it.
2. Bitcoin mining contributes to network instability
   DC refutes the notion that Bitcoin mining destabilizes power grids. Instead, it highlights how mining can stimulate the development of microgrids and provide a buffer for energy supply, improving grid stability. This is particularly relevant in regions where excess energy is available but underutilized.
3. Bitcoin has no real benefits in the real world
   DC also tackles the misconception that Bitcoin has no real-world applications. This is in fact one of the worst assumptions that underlies many attacks on Bitcoin mining. After all, why would anyone be allowed to use more electricity than Sweden to mine magic internet money? How dare they! By highlighting the stories of communities that benefit from mining, the film illustrates how Bitcoin can create financial opportunities and support local economies. Overall, DC presents a nuanced perspective on Bitcoin mining, encouraging viewers to rethink their assumptions and recognize its potential for positive environmental and social impacts.

Final thoughts

Whether you’re already a Bitcoin enthusiast or a skeptic, DC is a must-see documentary. It offers a balanced, insightful perspective on a complex issue and will leave you with a renewed appreciation for Bitcoin’s potential. Alana Mediavilla’s thoughtful approach and in-depth research make this film appealing to anyone interested in Bitcoin, environmental issues, or the intersection of technology and society. While it doesn’t shy away from the challenges facing the industry, it also offers hope that with continued innovation, Bitcoin mining can help usher in a future of energy abundance for humanity.

This is a guest post by Kudzai Kutukwa. The opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.