When global leaders discussed at the COP26 summit in Glasgow, Scotland, what measures need to be taken to address the issues surrounding climate change, companies all over the world are seeking to achieve carbon neutrality.
BitMEX revealed it Purchased 7,110 metric tons of CO2 credit, Valued at approximately US$100,000, in cooperation with AI carbon data tracking company Pachama.
BitMEX’s move will ensure that the platform maintains its operations in the upcoming calendar year while offsetting all emissions related to bitcoin transactions between its servers.
At the meeting, Morgan debate “There is no time for compensation” because we are in a “climate emergency” and therefore need to phase out fossil fuels.
As for what measures cryptocurrency companies can take to reduce their impact, Reyes believes that a more sustainable way to mine Bitcoin is to use more renewable energy.
In April of this year, Reuters reported that an organization that studies the completeness of carbon offsets stated that it analyzed 29% of forest carbon offsets in a $2 billion plan.
Faced with climate emergencies, Greenpeace has increasingly opposed polluting entities.
However, most companies do not subscribe as CCA signatories, and the bill requires a public statement of commitment to achieving net zero carbon emissions from power operations by 2030.
Mansky added that while some carbon offsets are greenish, many are not, which means that not all carbon offsets are equal, and some are more transparent than others.
The Bitcoin Mining Council estimated in July 2021 that Bitcoin mining is Use 56% renewable energy Compared with global energy consumption, its energy mix uses “insignificant energy”.
As the industry moves towards a greener future, the adoption of cryptocurrencies may increase, as some bystanders may no longer see environmental impact as concerns surrounding their participation in the industry.