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Publicly traded Bitcoin mining firm Gryphon Digital Mining (“Gryphon”) is at present mining Bitcoin with 100% renewable vitality, in accordance with a third-party audit made public by the corporate.
The Griffon is taking a daring step #esg lead by publishing #carbon emission Knowledge publicly. Data on our 100% renewable standing is on the market right here: https://t.co/1DV7bCYIp1 $GRYP #gryphondigital pic.twitter.com/69jT2nCjWw
– Gryphon Digital Mining (@GryphonMining) 26 March 2024
Gryphon Digital Mining makes use of CarbonChain, a corporation that tracks company carbon emissions, to trace its carbon footprint. Carbonchain's latest report on Gryphon reveals that the corporate has used 100% renewable vitality for Bitcoin mining to this point in 2024 and 98% renewable vitality in 2023, in accordance with Scopes 1 and a pair of of the report.
“We’re 100% renewable, and we’re exhibiting you ways it’s calculated,” Rob Chang, CEO of Gryphon Digital Belongings, instructed Bitcoin Journal.
“And we're not even going to depend it. That is being accomplished by a good third occasion,'' he mentioned.
“There are totally different ranges of transparency that the trade wants, however the truth is that reporting will not be uniform can and ought to be fastened – and we’re comfortable to cleared the path.”
Gryphon at present conducts all of its mining by way of a internet hosting contract with Coinmint at a facility positioned within the upstate NY city of Massena, which makes use of 100% hydroelectric vitality for its operations. Whereas Bitcoin mining operations have precipitated electrical energy costs to rise in some upstate New York cities, Gryphon's operations are having the alternative impact.
“Our location is in an financial alternative zone, so, if something, the demand (for electrical energy) will not be a lot better than ours,” Chang instructed Bitcoin Journal.
“The truth is, the existence of Bitcoin mining is offering financial electrical energy deployment for the area, as a result of it’s truly a gradual client of electrical energy which permits for financial supply of extra electrical energy into the area,” he mentioned.
Gryphon is seeking to increase 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,” Chang mentioned.
For extra details about Griffon, please go to the corporate's web site.