mido-finance.com

Crypto exchange BitMEX has made it public that it has committed to carbon neutrality, and will start a carbon balance regime instantly. Bitcoin exchange BitMEX started the first steps to instantly start offsetting carbon leak caused by withdrawals from the platform. They have mentioned it in a statement on Friday that they will contribute at least $0.0026 for every $1 of blockchain fees their clients pay.

“There has been huge scrutiny on cryptocurrencies and energy consumption recently, with wildly divergent views and accuracy of information,” this company has spoken, and further more they have mentioned, “We don’t pretend to have the answers but we know that it’s our responsibility to take some positive action.”

The exchange assigned Sam Bankman-Fried, CEO of crypto exchange FTX and Alameda Research, with specifying an evaluate of Bitcoin’s carbon foot mark, saying, “We have no shame in copy and pasting this positive initiative.

“Carbon offsetting is not the only answer to worries relating to the environmental footprint of crypto, but it’s clearly a good start,” this company added to its statement.

Bitcoin’s carbon footmark

Cambridge University evaluates that only 39% of the Bitcoin network works on renewable energy. The carbon footmark created by the non-renewable share of the Bitcoin mining industry is in general equal to over 60 billion pounds of burned coal, 9 million homes’ average electricity utilization for the year, or 138 billion miles driven by a normal traveler vehicle.