Publicly-traded bitcoin mining firm Gryphon Digital Mining (“Gryphon”) is presently mining bitcoin with 100% renewable power, 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 information 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 screens company carbon emissions, to trace its carbon footprint. CarbonChain’s recent report on Gryphon exhibits that the corporate has used 100% renewable power to mine bitcoin to this point in 2024 and 98% renewable power in 2023, as per Scope 1 and a pair 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 occasion 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 completely satisfied to cleared the path.”
Gryphon presently conducts all of its mining by way 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 caused electricity prices to spike in some upstate New York cities, Gryphon’s operation is having the other impact.
“Our location is in an financial Opportunity Zone, so, if something, there isn’t a lot demand [for power] competing towards us,” Chang advised Bitcoin Journal.
“In actual fact, 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 increase its operations into different jurisdictions which have supportive rules round bitcoin mining and that supply favorable economics for mining in addition to renewable power to energy its services.
“If it’s financial and carbon impartial, we’re there,” mentioned Chang.
For extra info on Gryphon, please go to the corporate’s website.