Miners will be scored accordingย to their use of clean energy and grid impact.
Non-profit organization Energy Web stated its starting a free sustainability registry for Bitcoinย (BTC) miners, which takes into account their energy inputs and impact on electric grids, according a press release.
The project, Green Proofs of Bitcoinย (BTC) (GP4BTC), will act as a โcertification layer, that can be referenced by numerous different organizations accordingย to what the miner desiresย to share,โ Amy Westervelt, Senior Delivery Lead and head of the GP4BTC initiative at Energy Web, informed CoinDesk.
Argo Blockchainย Tech (ARBK), Cowa, DMG Blockchainย Tech (DMG) and Gryphon Digital Mining and Hive Blockchainย Tech (HIVE) were certified at launch.
Miners have been increasingly scrutinized for their environmental impact owingย to their high energy consumption. Most recently, the Biden administration stated that its looking to impose a punitive tax on the miners accordingย to their energy consumption.
GP4BTC will score Bitcoinย (BTC) miners on two metrics that take into account the mix of energy they use: their purchases of energyย fromย renewableย 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 canย potentially introduce a fee for miners looking to get certified or for users looking to access the data, Westervelt said.
GP4BTC will be iterated upon, perhaps to include metrics on the use of waste gas. โAs of today, weโre just beginningย with something thatโs very aligned with how other corporations are allowed to make energyย fromย renewableย sources buy claims,โ 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.
