CoinCorner, a Bitcoin trading company focused on the UK, Announce now Carbon neutralThe carbon neutral project is carried out by the company’s internal research team and aims to directly and indirectly offset all the emissions generated by CoinJar.
“For many years, the Bitcoin industry has been criticized for the energy use of Bitcoin mining. Bitcoin is becoming more and more environmentally friendly, and developments such as the Lightning Network are working hard to make it one of the most effective payment channels in the world. CoinCorner Implementation Carbon neutrality seems to be just a small step in the grand plan, but we believe it is necessary and will strive to become a fully renewable energy company.”
– CoinCorner CEO, Danny Scott
In addition, in order to offset the negative impact of Bitcoin mining, CoinJar also cooperated with two environmental charities and promised to plant at least 6,000 trees each year.
Dave Boylan, a member of the CoinCorner research team, said: “Greenhouse gas (GHG) emissions are usually recorded in three ranges:
- Range 1: Direct emissions from company operations.
- Range 2: Emissions generated indirectly by the company.
- Range 3: The company is not directly responsible for the emissions, but the emissions generated upstream and downstream of the value chain. This is where Bitcoin mining comes in.
Scope 1 and Scope 2 emissions are fairly easy to calculate because they include tangible, easily measurable emissions, such as employee travel and electricity and heating usage. Estimation of Scope 3 emissions is much more difficult because we must take into account our web hosting and data centers, our use of the Bitcoin network, and all our banking and software partners. We hope that other Bitcoin companies will follow suit and consider achieving carbon neutrality. “