Bitcoin’s Carbon Footprint: Cryptocurrency-Based Companies are Going Carbon Neutral
Login

Bitcoin’s Carbon Footprint: Cryptocurrency-Based Companies are Going Carbon Neutral

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


Two weeks after Elon Musk’s infamous tweet about Tesla ending BTC acceptance for its vehicles due to Bitcoin’s carbon footprint, two leading global exchanges (FTX and BitMEX) have announced that they would go completely carbon neutral.

San-Francisco-based trading platform FTX asserted its commitment to the green cause via a tweet on Friday. Although the exchange argued that Bitcoin wasn’t the largest consumer of electricity, it acknowledged that the benchmark cryptocurrency has a crucial role in the “green future.” The FTX Twitter handle noted that:

“BTC isn’t the biggest user of energy, but we take our impact on the world seriously. To that end: FTX is committed to being carbon neutral.”

Also, the exchange noted that it would donate $1 million this year to some prominent carbon offsetting organizations. Sam Bankman-Fried, the exchange’s chief executive officer, stated that:

“Together, we can make the world a better place, and it doesn’t mean we have to give up what we believe in.”

Shortly after this announcement, BitMEX took to Twitter, emulating FTX’s move. The Seychelles-based cryptocurrency exchange announced that it would take affirmative measures towards carbon neutrality, adding that it would soon start a CO2 offsetting regime.

BitMEX promised to donate $0.0026 for every $1 of blockchain fees paid by its users as a show of commitment.

The exchange also noted that offsetting the carbon footprint of cryptocurrency is a decent start to a greener future, noting that:

“We are currently researching which organizations would be the most effective to partner with, and we also commit to publishing details of how much and who we donate to.”

More Companies Commit to Reducing Bitcoin’s Carbon Footprint

Last week, Greenidge Generation Bitcoin Mining, a behemoth BTC mining company, announced that it would become carbon neutral in 2021 and beyond and invest in US-based renewable energy sources.

The firm added that it would sell CO2 allowances through auctions and invest the capital generated in renewable energy and energy efficiency.

 

You can purchase crypto coins here: Buy Coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News