Renewable Energy

Standard

Scope

Gryphon Digital Mining, a publicly-traded bitcoin mining company, has achieved a significant milestone by powering its operations entirely with renewable energy, as verified by a third-party audit. This groundbreaking achievement was documented in a report by CarbonChain, an organization specializing in monitoring corporate carbon emissions. According to the report, Gryphon utilized 100% renewable energy for its bitcoin mining activities in 2024 and achieved a 98% renewable energy usage in 2023, aligning with Scope 1 and Scope 2 emissions standards, according to <a href="https://bitcoinmagazine.com/business/publicly-traded-bitcoin-miner-runs-on-renewable-energy-audit-confirms" rel="noopener noreferrer nofollow">Bitcoinmagazine</a>.
Rob Chang, CEO of Gryphon Digital Mining, emphasized the company's commitment to transparency and sustainability. "We’re 100% renewable, and we’re showing you exactly how it’s calculated,” Chang stated, highlighting the audit's role by a respected third-party in ensuring the accuracy of their claims. This initiative positions Gryphon as a leader in the bitcoin <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/" rel="noopener noreferrer nofollow">mining industry</a>, setting a benchmark for environmental responsibility.
Gryphon's operations are conducted in partnership with Coinmint, at a facility in upstate New York that relies on hydroelectric power. Contrary to concerns about bitcoin mining operations driving up <a href="https://ultramining.com/news/en/minnesota-man-faces-accusations-of-electricity-theft-for-bitcoin-mining/" rel="noopener noreferrer nofollow">electricity</a> costs in some regions, Gryphon’s activities have contributed positively to the local economy. The company's presence in an economic Opportunity Zone has not only minimized competition for power but has also stabilized power consumption, facilitating the economic delivery of electricity to the area.
Looking ahead, Gryphon aims to expand its environmentally conscious mining efforts into other regions with supportive bitcoin mining regulations, favorable economic conditions, and access to renewable energy sources. “If it’s economic and carbon neutral, we’re there,” Chang declared, signaling Gryphon's ongoing commitment to sustainable mining practices.

Gryphon Digital Mining Sets New Standard with 100% Renewable Energy Usage

Ultramining_Eng

Other articles published on Apr 7, 2024

Crypto at Crossroads – How 2024 Global Elections Will Impact the Crypto Verse.

Litecoin And BCH Price Rally Spark Interest in Borroe Finance Presale; Expert Analysis

Monero And XRP’s Unimpressive Performance Spurs Interest In $ROE Presale

Emergence of a Historically Significant Crypto Bull Market

Bitcoin ETF Regain Momentum With $484M Inflows, What’s Next For BTC Price?

Blockchain Security Firm Recovers Nearly $100 Million in Stolen Digital Assets Amid March Hacking...

Join our free newsletter for daily crypto updates!