Bitcoin Mining Firms Send Carbon Emissions Packing Wholly

There have always been concerns regarding the Proof-of-Work consensus model’s environmental effects and energy consumption.

Marathon Digital is one such company that is reconsidering the fact and is moving its operation to where the energy is greener.

They believe it is an appropriate time to transition their legacy operations away from fossil fuel generation and towards more sustainable power sources, highlights the CEO.

The year 2022 has brought scrutinies for the Proof-of-work consensus model, and the environmental concerns regarding it are also at extreme levels this year. And the policymakers have been giving thoughts on preparing legislation to limit activities in certain locations where the mining activities occur.

Various Bitcoin mining entities have vowed in responses that they will become carbon neutral by the end of this year. One of these companies is Marathon Digital Holdings, one of the largest Bitcoin operating entities in North America.

Appropriate Time To Move To Sustainable Sources Of Power

According to an announcement recently, the firm highlighted that it was moving from Montana, where power is sourced from coal to new locations where there are more sustainable, non-carbon emitting sources of power. And that its BTC mining operations will be 100% carbon neutral by the year-end.

According to Fred Thiel, the chairman and CEO of Marathon, their main aim for the year was to source sustainable energy for the operation. He signified that with the majority of their fleet already scheduled to be deployed at renewable power facilities and deployments presently underway, they believe it is an appropriate time to transition their legacy operations away from fossil fuel generation and towards more sustainable power sources.

Presently, the company has an agreement with Beowulf Energy with a data centre on a 20-acre plot beside Beowulf’s Hardin Generating Station, which is a 105-megawatt power facility located in Hardin, Montana.

The company’s website claims that the data centre has the potential for up to 30,000 S19 pro Miners, which can generate as much as 3.32 EH/s.

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Whereas on the other hand, a competitor mining firm, Stronghold Digital Mining, has recently highlighted that it has accepted the Securities and Exchange Commission’s proposal for climate-related disclosures by publicly traded companies.

According to Stronghold’s Co-chairman and CEO Gregory Beard, his company is already complying with the disclosures. The company is looking at technologies and investments to reduce its carbon emissions and further lessen its carbon footprint.

While these companies have already reconsidered their mining operations, it is to look forwards to who else joins them. And if the crypto industry would face any further skepticisms in the near future.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing