Publicly-traded bitcoin mining firm Gryphon Digital Mining (“Gryphon”) is at present mining bitcoin with 100% renewable power, based on a third-party audit the corporate has made public.
Gryphon is taking a daring step in #ESG management by publishing its #carbonemissions knowledge publicly. Perception into our 100% renewable standing is obtainable right here: https://t.co/1DV7bCYIp1 $GRYP #GryphonDigital pic.twitter.com/69jT2nCjWw
— Gryphon Digital Mining (@GryphonMining) March 26, 2024
Gryphon Digital Mining makes use of CarbonChain, a company that displays company carbon emissions, to trace its carbon footprint. CarbonChain’s current report on Gryphon exhibits that the corporate has used 100% renewable power to mine bitcoin to this point in 2024 and 98% renewable power in 2023, as per Scope 1 and a pair of of the report.
“We’re 100% renewable, and we’re exhibiting you precisely the way it’s calculated,” Gryphon Digital Mining CEO Rob Chang instructed Bitcoin Journal.
“And we’re not even those calculating it. It’s a revered third celebration doing it,” he added.
“There are numerous ranges of transparency that the trade wants, however the truth that the reporting isn’t uniform could be mounted and ought to be mounted — and we’re comfortable to paved the way.”
Gryphon at present conducts all of its mining by way of a internet hosting contract with Coinmint at a facility positioned in upstate New York that harnesses 100% hydroelectric energy for its operations. Whereas bitcoin mining operations have brought about electrical energy costs to spike in some upstate New York cities, Gryphon’s operation is having the alternative impact.
“Our location is in an financial Alternative Zone, so, if something, there isn’t a lot demand [for power] competing towards us,” Chang instructed Bitcoin Journal.
“In actual fact, the existence of bitcoin mining is offering financial energy deployment for the area, as a result of it’s truly a steady client of energy that enables the financial supply of extra energy to the world,” he added.
Gryphon is seeking to develop its operations into different jurisdictions which have supportive rules round bitcoin mining and that provide favorable economics for mining in addition to renewable power to energy its services.
“If it’s financial and carbon impartial, we’re there,” mentioned Chang.
For extra data on Gryphon, please go to the corporate’s web site.
