Publicly-traded bitcoin mining firm Gryphon Digital Mining (“Gryphon”) is at the moment mining bitcoin with 100% renewable vitality, in response to 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 on the market 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 displays company carbon emissions, to trace its carbon footprint. CarbonChain’s latest report on Gryphon exhibits that the corporate has used 100% renewable vitality to mine bitcoin so far 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 Mining CEO Rob Chang instructed 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 trade wants, however the truth that the reporting shouldn’t be uniform may be mounted and ought to be mounted — and we’re completely happy to prepared the ground.”
Gryphon at the moment 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 precipitated electrical energy costs to spike in some upstate New York cities, Gryphon’s operation is having the other 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 instructed Bitcoin Journal.
“In truth, the existence of bitcoin mining is offering financial energy deployment for the area, as a result of it’s really a secure shopper of energy that enables the financial supply of extra energy to the realm,” he added.
Gryphon is seeking 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,” mentioned Chang.
For extra data on Gryphon, please go to the corporate’s web site.
