The cryptocurrency exchange BitMEX has become one of the first exchanges in the industry to declare its carbon neutral status and has vowed to offset all emissions from Bitcoin trading.
In a frank statement, the company Express The intention is not only to balance its emissions, but the reason is that it recently partnered with AI carbon data tracking company Pachama to purchase 7,110 tons of carbon dioxide credits, valued at approximately US$100,000.
A carbon credit is an approval certificate granted by an official legislative body that allows a company to use one ton of carbon dioxide in a way that promotes data accountability and traceability.
According to reports, this will ensure that the platform maintains operations in the upcoming calendar year, as well as all offset emissions in and out of the platform’s operating servers caused by bitcoin transactions.
When discussing their sustainable practice philosophy, BitMEX stated that a unified approach is needed:
“Comprehensive efforts need to include research on environmental impact, as well as basic education about the unlocking possibilities of encryption technology.”
During the Global Broadcasting COP 26 summit in Glasgow this week, global emissions and sustainability strategies have been hot topics of debate.
Presidents and prime ministers from all over the world have met to address major concerns about the insidious demise of our global habitat, and continue to emphasize the importance of staying below the target level for global warming.
In early October, Jennifer Morgan, Executive Director of Greenpeace spoke At the Reuters Impact Conference, regarding the growing trend of companies adopting carbon credits to evade the responsibility of the earth, he said enthusiastically:
“There is no time for offsetting. We are in a climate emergency and we need to phase out fossil fuels. These offsetting plans are purely’greenwashing’ so that companies and oil companies can continue to do what they have been doing and make profits .”
this Encrypted climate agreement is an environmental initiative With the support of more than 150 organizations from the encryption, blockchain, technology, and industrial industries, they all pledge to unity to varying degrees to promote the growth of the encryption market and the implementation of sustainable operations.
Companies advocating for this cause by advising, developing and expanding partnerships and promising to provide support include Coinshares, Consensys, Web 3 Foundation, Ripple, Enjin, and Polygon.
However, these companies have not yet subscribed as CCA signatories, and the bill requires a public statement of commitment to achieving net zero carbon emissions from power operations by 2030.
The few companies that have taken this action include Near Protocol, Pixl 8, Argo Blockchain, and Gryphon Digital Mining.