If there is one recurring accusation leveled against cryptocurrencies by anti-Bitcoiners, it is that crypto mining pollutes the environment through carbon emissions. What this Bitcoin mining company intends to accomplish could counteract that criticism.
Mawson Infrastructure Group wants to plant 53000 trees
The power required to mine only one Bitcoin (BTC) is estimated to be around 1,500 kilowatt-hours (kWh). That’s more than the average American household consumes in 53 days. The global Bitcoin network, in fact, uses 100 terawatt-hours (TWh) of electricity per year.
That is the same amount as the entire country of Sweden. With this in mind, many people are concerned about Bitcoin’s and other cryptocurrencies’ environmental impact, such as Ether (ETH) and Dogecoin (DOGE).
In 2022, Mawson Infrastructure Group wants to plant 53000 trees, which equates to one tree for every block created on the Bitcoin network. This will raise the total number of trees planted to 78,000, and if they keep going, they may even meet their goal of a million trees planted.
The company’s purpose is to become the world’s top provider of digital infrastructure, and it promises to do so in an environmentally responsible manner, aiming for net-zero emissions by 2030. Last year, it offsets 100 percent of its emissions, and it plans to do so again this year.
”We want to use a long-term strategy to help the global transition to a carbon-free society”. Mawson claims that it places its mining operations near power facilities with underutilized energy assets in order to make use of surplus electricity that would otherwise be wasted. When possible, the company prioritizes the utilization of sustainable energy sources.
The business has added 4,000 ASIC miners, bringing its total mining capacity to 3.35EH by Q2 2022, a gain of almost 11 percent. By early 2023, the goal is to reach 5EH.
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Also read: PIL filed before Bombay High Court to regulate cryptocurrency transactions in India
