Energy Web Establishes Free Sustainability Registry for Bitcoin Miners

A free sustainability registry created especially for bitcoin miners has been launched by non-profit organization Energy Web, marking a significant step forward in the promotion of environmental sustainability in the cryptocurrency sector. According to a recent press release, this register, called Green Proofs of Bitcoin (GP4BTC), intends to evaluate the energy inputs and effects of miners on electric networks.

Depending on the particular data that miners want to give, different organizations may use the GP4BTC effort by Energy Web as a certification layer. Amy Westervelt, Senior Delivery Lead and head of GP4BTC at Energy Web, spoke about the project and outlined the registry’s adaptability.

Several well-known mining firms have already been certified since the GP4BTC registry’s debut. These include Gryphon Digital Mining, Argo Blockchain (ARBK), Cowa, DMG Blockchain (DMG), Hive Blockchain (HIVE), and DMG Blockchain.

Miners are under pressure to fix these issues as the environmental impact of bitcoin mining, which consumes a significant amount of electricity, comes under more and more attention. The Biden administration recently even suggested putting harsh fees on miners depending on their energy consumption.

GP4BTC uses two important measures that take into account the energy mix used by bitcoin miners to assess their sustainability efforts. The first indicator is the acquisition of renewable energy certificates (RECs), which show ownership of environmentally friendly electricity generation. The second indicator focuses on their involvement in demand response initiatives, which enable miners to shut down during times of high energy demand.

The sustainability register is now provided without cost. According to Westervelt, Energy Web has stated that it may eventually impose fees for users accessing the data or for miners seeking certification.

“As of today, we’re just starting with something that’s very aligned with how other corporations are allowed to make renewable energy purchase claims,” said Westervelt.

Looking ahead, it is anticipated that GP4BTC will develop further and maybe include more indicators pertaining to the usage of waste gas. Westervelt emphasized that the initial emphasis is on aligning with the promises made by other firms about the acquisition of renewable energy.

To increase openness regarding the sustainability of their products, Energy Web, a non-profit organization devoted to offering blockchain-based solutions to participants in the energy industry, has set out to do so. Energy Web is striving to increase environmental responsibility and accountability in the cryptocurrency business through its partnership with a group of miners known as the Crypto Climate Accord.