Green Proofs of Bitcoin: How Miners Score on Clean Energy and Grid Impact

Green Proofs of Bitcoin: How Miners Score on Clean Energy and Grid Impact

Energy Web is launching a free sustainability registry for bitcoin miners, called Green Proofs of Bitcoin (GP4BTC), which scores miners on their use of clean energy and participation in demand response programs.

Miners will be scored according to their use of clean energy and grid impact.

Non-profit organization Energy Web stated its starting a free sustainability registry for Bitcoin (BTC) miners, which takes into account their energy inputs and impact on electric grids, according a press release.

The project, Green Proofs of Bitcoin (BTC) (GP4BTC), will act as a “certification layer, that can be referenced by numerous different organizations according to what the miner desires to share,” Amy Westervelt, Senior Delivery Lead and head of the GP4BTC initiative at Energy Web, informed CoinDesk.

Argo Blockchain Tech (ARBK), Cowa, DMG Blockchain Tech (DMG) and Gryphon Digital Mining and Hive Blockchain Tech (HIVE) were certified at launch.

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Miners have been increasingly scrutinized for their environmental impact owing to their high energy consumption. Most recently, the Biden administration stated that its looking to impose a punitive tax on the miners according to their energy consumption.

GP4BTC will score Bitcoin (BTC) miners on two metrics that take into account the mix of energy they use: their purchases of energy from renewable sources credits (RECs) and their participation in demand response programs. RECs represent ownership of the sustainability of electricity produced. Demand response programs allow corporations to power off at times of peak energy demand.

The registry is free for the time being. Energy Web can potentially introduce a fee for miners looking to get certified or for users looking to access the data, Westervelt said.

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GP4BTC will be iterated upon, perhaps to include metrics on the use of waste gas. “As of today, we’re just beginning with something that’s very aligned with how other corporations are allowed to make energy from renewable sources buy claims,” stated Westervelt.

Energy Web is a non-profit that provides blockchain-based solutions to energy market participants looking to prove that the sustainability of their products. The company has been working with a consortium of miners build transparency around their energy sources, known as the Cryptocurrency Climate Accord.

Aoyon Ashraf.


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