Sustainable Bitcoin Protocol Completes First Transaction to Clean Up Bitcoin Mining
It is reported that Sustainable Bitcoin Protocol (SBP), a Token-based environment-friendly energy start-up, has completed the first transaction to clean up Bit…
It is reported that Sustainable Bitcoin Protocol (SBP), a Token-based environment-friendly energy start-up, has completed the first transaction to clean up Bitcoin mining blockchain assets. SBP issues the sustainable bitcoin certificate of environmental assets on the chain (SBC), which represents the bitcoin mined using clean energy and is verified by a third party. Miners who use clean energy can participate in the plan at no extra cost. By allowing miners to sell SBC, the agreement hopes to encourage miners to use clean energy. CoinDesk quoted the press release as saying that Bitcoin mining company CleanSpark had sold SBC to Melanion Digital, the digital asset division of Melanion Capital, an alternative investment and asset management company.
Sustainable Bitcoin Protocol completed the first transaction to clean Bitcoin mining certificate assets
Interpretation of the news:
Sustainable Bitcoin Protocol (SBP), a token-based environment-friendly energy start-up, has completed the first transaction aimed at cleaning up Bitcoin mining blockchain assets. The company issues the Sustainable Bitcoin Certificate of Environmental Assets on the Chain (SBC), which represents Bitcoin mined using clean energy and duly verified by a third party.
This move is a significant milestone for SBP as the initiative offers an opportunity for miners to adopt clean energy with no extra cost. The company hopes that the sale of SBC will encourage more miners to embrace clean energy. The transaction was performed by Bitcoin mining company, CleanSpark, who sold SBC to Melanion Digital, the digital asset division of Melanion Capital, an alternative investment and asset management company.
Notably, Bitcoin mining is an energy-intensive process that drives thousands of computers to solve complex mathematical puzzles in order to verify transactions. The process, however, depends mainly on coal and other non-renewable energy sources, leading to high carbon emissions that exacerbate climate change.
SBP’s unique approach to offsetting carbon emissions from crypto mining is a significant contribution towards achieving the world’s net-zero emissions target. By issuing SBC, SBP incentivizes miners to use clean energy sources such as wind, solar, and geothermal energy. This would significantly reduce carbon emissions, thus promoting a cleaner and sustainable environment.
The successful completion of the first transaction by SBP highlights the immense potential of a clean energy-focused approach in Bitcoin mining. The initiative is expected to attract more miners who are ready to embrace environmentally friendly practices, leading to a cleaner and more sustainable Bitcoin mining industry.
In conclusion, the adoption of clean energy in Bitcoin mining is an essential move towards reducing carbon emissions, achieving sustainable economic growth, and promoting a healthier environment. SBP’s innovative solution is expected to drive the industry towards more sustainable solutions. As the initiative continues to gain traction, we hope to see more companies following this path in making the Bitcoin mining environment cleaner.
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