Publicly-traded bitcoin mining firm Gryphon Digital Mining (“Gryphon”) is at the moment mining bitcoin with 100% renewable vitality, in line with 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 accessible 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 corporation that screens company carbon emissions, to trace its carbon footprint. CarbonChain’s latest 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 Property CEO Rob Chang advised 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 will not be uniform might be fastened and ought to be fastened — and we’re comfortable to cleared the path.”
Gryphon at the moment conducts all of its mining by way of a internet hosting contract with Coinmint at a facility positioned within the upstate New York city of Massena, which harnesses 100% hydroelectric energy for its operations. Whereas bitcoin mining operations have brought on 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 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 really a secure 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 supply 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 info on Gryphon, please go to the corporate’s web site.
