Publicly-Traded Bitcoin Miner Runs on 100% Renewable Power, Audit Confirms

Publicly-traded bitcoin mining firm Gryphon Digital Mining (“Gryphon”) is at the moment mining bitcoin with 100% renewable vitality, in accordance with a third-party audit the corporate has made public.

Gryphon Digital Mining makes use of CarbonChain, a corporation that displays company carbon emissions, to trace its carbon footprint. CarbonChain’s recent 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 exhibiting 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 get together doing it,” he added.

“There are numerous ranges of transparency that the business wants, however the truth that the reporting is just not uniform might be mounted and must be mounted — and we’re completely satisfied to prepared the ground.”

Gryphon at the moment conducts all of its mining via a internet hosting contract with Coinmint at a facility situated 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.

“The truth is, 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 enables the financial supply of extra energy to the world,” he added.

Gryphon is trying to increase its operations into different jurisdictions which have supportive rules round bitcoin mining and that provide favorable economics for mining in addition to renewable vitality to energy its amenities.

“If it’s financial and carbon impartial, we’re there,” mentioned Chang.

For extra info on Gryphon, please go to the corporate’s website.

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