The hybrid bitcoin miner and power plant Greenidge Generation Holdings says it will buy carbon offsets in an effort to become carbon neutral starting June 1.
The company also said it will redirect some of its profits into renewable energy initiatives, according to a release published Friday.
The New York-based bitcoin mining firm has joined what appears to be a growing number of other crypto companies seeking to reduce their carbon footprint through carbon offsetting — funding ways to reabsorb excess CO2 from the atmosphere or reducing emissions, which have mixed results based on how actually effective they are in combatting climate change.
The carbon offset projects for its 19 MW bitcoin mining capacity — from its 106 MW total — will be verified through the American Carbon Registry (ACR), the Climate Action Reserve (CAR), and the carbon emission reduction standardization company Verra. According to Greenidge’s press statement, these three carbon offset consulting agenci
Ethereum Co-Founder Vitalik Buterin Burns $6.7 Billion in Shiba Inu (SHIB) Tokens
Vitalik Buterin, who was gifted half of Shiba Inu’s total supply, has burned 90% of his holdings worth…
