Publicly-Traded Bitcoin Miner Runs on 100% Renewable Energy, Audit Confirms

Publicly-traded bitcoin mining institution Gryphon Digital Mining (“Gryphon”) is presently mining bitcoin with 100% renewable energy, according to a third-party audit the institution has made public.

Gryphon Digital Mining uses CarbonChain, an enactment that monitors firm c emissions, to way its c footprint. CarbonChain’s recent report connected Gryphon shows that the institution has utilized 100% renewable vigor to excavation bitcoin frankincense acold successful 2024 and 98% renewable vigor successful 2023, arsenic per Scope 1 and 2 of the report.

“We’re 100% renewable, and we’re showing you precisely however it’s calculated,” Gryphon Digital Mining CEO Rob Chang told Bitcoin Magazine.

“And we’re not adjacent the ones calculating it. It’s a respected 3rd enactment doing it,” helium added.

“There are assorted levels of transparency that the manufacture needs, but the information that the reporting is not azygous tin beryllium fixed and should beryllium fixed — and we’re blessed to pb the way.”

Gryphon presently conducts each of its mining done a hosting declaration with Coinmint astatine a installation located successful upstate New York that harnesses 100% hydroelectric powerfulness for its operations. While bitcoin mining operations person caused energy prices to spike successful immoderate upstate New York towns, Gryphon’s cognition is having the other effect.

“Our determination is successful an economical Opportunity Zone, so, if anything, determination isn’t overmuch request [for power] competing against us,” Chang told Bitcoin Magazine.

“In fact, the beingness of bitcoin mining is providing economical powerfulness deployment for the region, due to the fact that it is really a unchangeable user of powerfulness that allows the economical transportation of much powerfulness to the area,” helium added.

Gryphon is looking to grow its operations into different jurisdictions that person supportive regulations astir bitcoin mining and that connection favorable economics for mining arsenic good arsenic renewable vigor to powerfulness its facilities.

“If it’s economical and c neutral, we’re there,” said Chang.

For much accusation connected Gryphon, delight sojourn the company’s website.