Publicly-traded bitcoin mining firm Gryphon Digital Mining (“Gryphon”) is at present mining bitcoin with 100% renewable vitality, 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 offered 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 reveals that the corporate has used 100% renewable vitality to mine bitcoin to this point in 2024 and 98% renewable vitality in 2023, as per Scope 1 and a couple of of the report.
“We’re 100% renewable, and we’re displaying 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 business wants, however the truth that the reporting will not be uniform will be fastened and ought to be fastened — and we’re blissful to cleared the path.”
Gryphon at present conducts all of its mining by 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 precipitated 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.
“In reality, 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 permits the financial supply of extra energy to the realm,” he added.
Gryphon is trying to broaden its operations into different jurisdictions which have supportive laws round bitcoin mining and that provide favorable economics for mining in addition to renewable vitality to energy its services.
“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.
