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Bitcoin mining companies support this sustainability certification

Energy Web, an independent nonprofit that develops open-source software for clean energy solutions, has launched Green Proofs for Bitcoin (GP4BTC). This is an initiative that aims to establish an independent and standardized energy measurement system for the Bitcoin mining industry.

According to him release officially, GP4BTC will provide transparency on Bitcoin miners’ decarbonization efforts and hosting companies. This is intended to achieve the goal of supporting the industry on its way to CO2 neutrality.

As part of the project Bitcoin miners receive certifications based on clean energy use and their contributions to grid stability through demand side management. These certifications will provide recognition and reputational benefits to companies engaged in sustainable mining.

Major companies in the bitcoin mining industry are supporting the Energy Web project. Between them, Argo Blockchain, Cowa, Digital Mining Group, Hive Blockchain Technologies and Gryphon Digital Mining stand out.

“Bitcoin is currently under scrutiny due to its power consumption and associated climate impact,” said Amy Westervelt, head of the GP4BTC initiative at Energy Web.

“Although major mining companies are adopting strategies to reduce their carbon footprint, the industry lacks a common definition of sustainable mining and a common framework to assess and review miners’ sustainability practices. Green Proofs for Bitcoin aims to deliver.”

Details on sustainability certification for bitcoin miners

The certification system GP4BTC evaluates miners using a Clean Energy Score and a Network Impact Score, which are calculated based on operational information such as location and energy consumption data. These values ​​reflect miners’ purchases of renewable electricity, the location of operations in regions with low grid carbon intensity, and their contribution to grid stability through demand flexibility.

The GP4BTC initiative was developed in collaboration with more than 35 miners, NGOs, network operators and other participants in the energy and crypto market. This scoring approach is consistent with best practices for sustainability leadership in other industries and with corporate ESG (governance, social and environmental) reporting approaches in the financial sector, Energy Web said in its statement.

As reported in previous CriptoNoticias releases, Bitcoin mining is increasingly pointing towards renewable energy. The miners’ adaptability to the location and the quick response to demand that the activity allows are factors that are beneficial to them. In fact, there are already researchers claiming that Bitcoin mining uses more renewable energy than other industries.

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