This article presents the validation of a digital signal processing technique that can be used to estimate radiometric sky noise, and hence atmospheric absorption, within existing digital receivers at little/no additional cost. To demonstrate this, a receiver was constructed that simultaneously records the beacon signal power from the ALPHASAT Aldo Paraboni technology demonstration payload, as well as the integrated noise power in the adjacent band. Calibration from the digital radiometer is performed using tip-curve calibration procedures. Atmospheric fading is then obtained by observing the beacon as well as the radiometric signals. This enables the comparison of fading obtained by the two techniques and provides a means to calibrate the received beacon power level to obtain total atmospheric attenuation. It is shown that for low levels of fading, up to a few dB, the two techniques provide good agreement. This approach can, therefore, provide a low-cost option for geostationary mm-wave satellite channel measurements in the low fading regime, which can be useful in the design and operation of the feeder links in emerging satcom systems.