Bitcoin Exchanges FTX, BitMEX Commit To Becoming Carbon Neutral
Bitcoin exchanges FTX and BitMEX committed to donating portions of the money they spend on transaction fees to offset carbon emissions.Bitcoin exchanges FTX and BitMEX have committed to becoming carbon neutral by donating $0.0026 for every dollar spent on blockchain transaction fees to carbon-offsetting organizations."We estimate that we will pay roughly $60m in blockchain fees this year, which would imply about $150k in offsetting costs," announced FTX. "Given the uncertainty in the calculations, we'll be rounding that (way) up to $1m."It was FTX's CEO Sam Bankman-Fried who crunched the....
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Crypto exchange BitMEX has followed through on its earlier commitment to carbon neutrality. On Tuesday, the exchange announced its plans to offset the environmental footprint of its Bitcoin transactions. It also announced research plans as well as partnerships with organizations dedicated to using innovation to lower cryptocurrency’s environmental impact. Related Reading | Tesla Halts Bitcoin Payments Over Environmental […]
After introducing a new carbon-neutral system for Bitcoin investment in April, One River Digital has already applied for a carbon-neutral BTC ETF. Institutional investors have been showing a stronger appetite for a carbon-neutral Bitcoin (BTC) investment solution by One River Digital Asset Management.One River Digital, a crypto-focused hedge fund offering exposure to Bitcoin and Ether (ETH), announced Wednesday that an “overwhelming majority of assets” in its institutional Bitcoin fund have chosen to switch to One River’s new carbon-neutrality share class.In April, the company introduced a....
According to recent data, the cryptocurrency sector outputs near 150 TWh of electricity annually, a figure higher than countries like Poland, Norway, Egypt or Sweden. Cryptocurrency exchange BitMEX has become one of the first exchanges in the sector to announce their carbon-neutral status, as well as vowing to offset emissions of all Bitcoin transactions to and from the platform.In a candid statement, the company expressed its intention to go further than merely balancing its emission output, citing a recent purchase of 7,110 tonnes of CO2 credits, approximately valued at $100,000, in....
On Friday, the bitcoin mining operation Greenidge Generation has announced that starting June 1st, the firm will be “carbon neutral” for the rest of 2021 and beyond. Greenidge’s announcement follows the recent statements from Tesla and Square after the companies cited environmental concerns over bitcoin mining. New York-based Bitcoin Miner Aims to Be Carbon Neutral by June 1st and Beyond Ever since Tesla cited environmental concerns over bitcoin (BTC) mining and told the public it would not be accepting BTC for electric cars, the topic has spread widely across social....
Ripple, the crypto solutions company shall commit $100M for the goal of carbon removal by investing in climate oriented fintech companies. The blockchain-based payments network has aimed to facilitate the acceleration of carbon removal technology in order to bring about modernization of the carbon markets. Carbon markets will let companies and individuals trade carbon credits […]