{"id":16479,"date":"2021-05-14T18:12:26","date_gmt":"2021-05-14T18:12:26","guid":{"rendered":"http:\/\/ci0283179b80002458"},"modified":"2021-05-14T18:12:26","modified_gmt":"2021-05-14T18:12:26","slug":"greenridge-bitcoin-mining-going-carbon-neutral","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/greenridge-bitcoin-mining-going-carbon-neutral","title":{"rendered":"Bitcoin Miner Greenidge Generation Commits To Being Carbon Neutral By 2021"},"content":{"rendered":"
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According to a press release sent to Bitcoin Magazine<\/em>, Greenidge Generation Holdings\u2019 bitcoin mining operations facility in Upstate New York will be entirely carbon neutral by June 1, 2021.<\/p>\n

\u201cGreenidge will purchase voluntary carbon offsets from a portfolio of U.S. greenhouse gas reduction projects,\u201d according to the release. \u201cEach project has been reviewed and certified by one of three well-recognized Offset Project Registries \u2026 ensuring that any projects funded by Greenidge reduce emissions or increase sequestration of greenhouse gas in a manner that is real, permanent, and verifiable.\u201d<\/p>\n

Greenidge Generation Holding Inc. is a holding company that includes Greenidge Generation LLC, its vertically-integrated bitcoin mining and power generation facility in Upstate New York. Its 106-megawatt natural gas plant allows Greenidge to mine bitcoin and contribute to the security of the Bitcoin network with reduced costs while meeting the power needs of homes and businesses in the Finger Lakes region.<\/p>\n

\u201cOur bitcoin mining capability is already best-in-class and seamlessly integrated with our electricity generation that powers thousands of homes and businesses,\u201d Jeffrey Kirt, CEO of Greenidge Generation Holdings Inc, per the release. \u201cBy taking the bold and unique step of making our cryptocurrency mining fully carbon neutral immediately \u2014 as opposed to at some distant date in the future \u2014 Greenidge is once again leading in environmental efforts.\u201d<\/p>\n

Kirt added that, with this commitment, Greenidge is demonstrating that it is possible to secure the Bitcoin network while maintaining a fully carbon-neutral footprint. The company is also calling on others to join in cutting greenhouse gas emissions \u201cnow.\u201d<\/p>\n

There has been plenty of movement in the Bitcoin energy field lately. At the beginning of this week, Ninepoint announced<\/a> it would invest its management fees in forest conservation to offset the carbon footprint of its bitcoin exchange-traded fund (ETF). And yesterday, Argo Blockchain announced that it had purchased<\/a> two hydro-powered data centers to propel its green bitcoin mining vision. <\/p>\n

Highlighting some common misconceptions about Bitcoin as an energy \u201cwaster,\u201d on Wednesday, Elon Musk tweeted<\/a> that his company, Tesla, will halt the acceptance of bitcoin as payment for its electric cars due to environmental concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"

Greenidge Generation has announced it will offset all greenhouse gas emissions from its bitcoin mining operations by June 2021.<\/p>\n","protected":false},"author":2572,"featured_media":5793,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[189,969,3022],"class_list":{"0":"post-16479","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bitcoin-mining","9":"tag-energy-consumption","10":"tag-greenridge-generation"},"author_data":{"id":2572,"name":"Namcios","nicename":"namcios","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/pfp-96x96.png"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/mining.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/16479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2572"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=16479"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/16479\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/5793"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=16479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=16479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=16479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}