Publicly-traded bitcoin mining firm Gryphon Digital Mining (“Gryphon”) is at present mining bitcoin with 100% renewable vitality, in response to 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 vitality to mine bitcoin to date in 2024 and 98% renewable vitality 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 advised Bitcoin Journal.
“And we’re not even those calculating it. It’s a revered third social gathering doing it,” he added.
“There are numerous ranges of transparency that the trade wants, however the truth that the reporting just isn’t uniform will be fastened and needs to be fastened — and we’re glad to paved the way.”
Gryphon at present conducts all of its mining by means 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 prompted electrical energy costs to spike in some upstate New York cities, Gryphon’s operation is having the other impact.
“Our location is in an financial Alternative Zone, so, if something, there isn’t a lot demand [for power] competing in opposition to us,” Chang advised Bitcoin Journal.
“The truth is, the existence of bitcoin mining is offering financial energy deployment for the area, as a result of it’s truly a steady shopper of energy that enables the financial supply of extra energy to the realm,” he added.
Gryphon is seeking to broaden its operations into different jurisdictions which have supportive rules round bitcoin mining and that provide favorable economics for mining in addition to renewable vitality to energy its amenities.
“If it’s financial and carbon impartial, we’re there,” stated Chang.
For extra data on Gryphon, please go to the corporate’s web site.
