Crypto Exchange BitMEX To Be Carbon Neutral


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The number of cryptocurrency businesses adopting carbon neutral practices is growing. Leading cryptocurrency exchange BitMEX has also pledged to offset its carbon emissions, according to a statement released Friday.

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The cryptocurrency exchange BitMEX made an announcement on Friday. Saying it will be carbon neutral, the business announced that it will donate at least $ 0.0026 for every $ 1 blockchain fee that users don’t pay. The stock market used the following statements on the subject:

“Recently, very different views have been raised on cryptocurrencies and energy consumption, and a great review has been made as to whether the information is correct. We cannot pretend we have the answers, but we know it is our responsibility to take positive action. ”

Sam Bankman-Fried, CEO of FTX, another prestigious cryptocurrency exchange, was also involved in the discussion and said:

“There is no shame in imitating this positive initiative”

The firm also stated that the move was a good start:

“Carbon offsetting practices aren’t the only answer to concerns about cryptocurrency’s environmental footprint, but it’s definitely a good start.”

Only 39% of the Bitcoin Network Runs on Renewable Energy

According to the University of Cambridge, only 39% of the Bitcoin network is powered by renewable energy. The carbon footprint generated by this non-renewable part corresponds to over 60 billion pounds of burned coal, the average electricity consumed by 9 million homes annually, or 238 billion miles driven by an average passenger car. These numbers can be concretized as follows: Pluto is the furthest distance from Earth at 4.6 miles.