You are currently on the new version of our website. Access the old version .
SustainabilitySustainability
  • Perspective
  • Open Access

11 September 2024

The Potential Relationship between Biomass, Biorefineries, and Bitcoin

,
,
and
Faculty of Science and Technology, University of Stavanger, 4036 Stavanger, Norway
*
Author to whom correspondence should be addressed.
This article belongs to the Section Economic and Business Aspects of Sustainability

Abstract

Despite advances in biofuel production and biomass processing technologies, biorefineries still experience commercialization issues. When costs exceed revenues, their long-term economic sustainability is threatened. Although integrated biorefineries have significant global potential due to process integration and product co-generation, it is crucial that they generate a positive net return, thereby incentivizing their continual operation. Nonetheless, research and development into new system designs and process integration are required to address current biorefinery inefficiencies. The integration of Bitcoin mining into biorefineries represents an innovative approach to diversify revenue streams and potentially offset costs, ensuring the economic viability and commercial success of biorefineries. When using bio-H2, a total of 3904 sats/kg fuel can be obtained as opposed to 537 sats/kg fuel when using syngas. Bitcoin, whether produced onsite or not, is an accretive asset that can offset the sales price of other produced biochemicals and biomaterials, thereby making biorefineries more competitive at offering their products. Collaborations with policy makers and industry stakeholders will be essential to address regulatory challenges and develop supportive frameworks for widespread implementation. Over time, the integration of Bitcoin mining in biorefineries could transform the financial dynamics of the bio-based products market, making them more affordable and accessible whilst pushing towards sustainable development and energy transition.

Article Metrics

Citations

Article Access Statistics

Multiple requests from the same IP address are counted as one view.