Bitcoin as a sustainability tool? New ESG paper provides data-based decision-making basis for companies
“Bitcoin – Implications & opportunities for companies and investors
from an ESG perspective”
Berlin, June 17, 2025 – A new working paper by the ESG Committee of the Bitcoin Bundesverband sheds light on the potential of Bitcoin as a strategic tool for sustainable business practices. Based on current data and case studies, the report shows how companies can use Bitcoin – not only as a financial instrument, but also to stabilize the grid, reduce CO₂ emissions and increase transparency in supply chains.
Central contents
- Regulatory relevance (CSRD)
The paper offers concrete approaches on how companies with Bitcoin exposure can fulfill their ESG reporting obligations in accordance with CSRD.
- Specific fields of application
The analysis covers practical applications – from flexible load control in the electricity grid (Section 13k EnWG) and waste heat utilization to payment streaming and treasury strategies.
- Data-based environmental assessment
Contrary to popular criticism, the integration of Bitcoin mining into regenerative energy concepts can make a positive contribution to climate protection. The paper compares emissions, flexibility metrics and energy sources with established industries such as the financial and gold sectors.
- Potential for companies
Used strategically, Bitcoin can help to strengthen resilience, open up new markets and increase economic and ecological efficiency.
The working paper provides a reliable basis for companies, investors and political decision-makers who want to take a well-founded look at the ESG implications of Bitcoin.
Complete working paper (PDF, 77 pages): Download
Authors
Lars Eichhorst, Janine Paas, Peter Rochel
Background
The new working paper of the ESG Committee of the Bitcoin Bundesverband
(“Bitcoin: Implications & Opportunities for Companies and Investors from an ESG Perspective”) analyzes on almost 80 pages how Bitcoin can be used in the context of sustainability goals (ESG/SDG) – beyond common narratives about energy consumption and speculation.
Key messages & findings
Energy & Environment (E – Enviromental)
- Bitcoin mining can make targeted use of surplus electricity and contribute to grid stabilization (Section 13k EnWG)
- Significant CO₂ savings are possible with intelligent site selection
- Heat recovery in data centers opens up new paths for sustainable heat supply
Social (S – Social)
- Bitcoin enables inclusive access to financial services, especially in regions without a functioning banking system
- Possible uses for NGO financing and crisis aid through direct crowdfunding
Governance (G – governance)
- Decentralization, immutability and transparency enable new forms of traceability, e.g. in supply chains or administrative processes
- Bitcoin-based infrastructure can be integrated into compliance and reporting systems
Regulation & reporting obligations
- The working paper specifically addresses the requirements of the new EU directive CSRD (Corporate Sustainability Reporting Directive)
- Recommendations for ESG-compliant reporting are developed for companies with Bitcoin exposure (e.g. through mining, treasury, payment processes).
Examples & use cases in the paper
- Company: Tesla, Strategy, Deutsche Börse, SynBiotic
- States & Funds: Bhutan, Texas, Abu Dhabi
- Applications:
- Flexible load control for the power grid
- Waste heat recovery in data centers
- Machine-based payments (M2M / IoT)
- Payment streaming and micropayments
- Transparent supply chains with Bitcoin as a trust layer
Voices from the team of authors and the Executive Board
“We are showing: Bitcoin – used correctly – can do more than just consume energy. It can reduce system costs and even accelerate sustainability goals.”
Lars Eichhorst, co-author, BTCBV board member & entrepreneur
“Bitcoin not only opens up new areas of thought and action as a digital asset, but above all as a technological infrastructure – with the potential to combine entrepreneurial sustainability and social and economic development in a new way.”
Janine Paas, Co-Author & Treasury Manager
“Anyone who takes ESG seriously today should not reflexively reject Bitcoin, but rather specifically examine how its infrastructure can be used sensibly – ecologically, economically and socially.”
Peter Rochel, Co-Author & Entrepreneur
“Bitcoin is more than just an asset – it is a strategic tool for companies that not only think sustainably, but also want to act sustainably in the future.”
Philipp Hartmannsgruber, Chairman of the Board BTCBV
Further information
Complete working paper (PDF, 77 pages): Download
