The company said in a statement that it will trade in CERs on the Chicago Climate Exchange. Greenidge claims that its devices currently push out “zero” carbon emissions, but by June 1 it will offset any remaining emissions because of the energy used by its bitcoin mining hardware. The company announced the venture last week during President Obama’s visit to a solar panel factory in Boulder City, Nevada. Greenidge said at least one of their products, a device called the GPM-1000 (pictured above), can be found in production systems located around the world including those run by BitFury and Mega.
The company’s initiative will focus on solar and wind energy, as well as a program that allows individuals to invest in green projects.
To minimize the environmental impact of its bitcoin mining operations, a New York-based company will fund the reforestation of about 413 hectares (1,040 acres) of land in Russia’s Ulyanovsk region. The company, Bitfury, is also investing in construction projects in Norway and Iceland – Green technology is a term for technology that minimizes the affects on human health and environmental quality. Some problems facing the world because of climate change include increases in sea levels, dammages from floods, droughts, heat waves and hurricanes.
The carbon offset projects for its 19 MW bitcoin mining capacity — from its 106 MW total — are going to be verified through the American Carbon Registry (ACR), the Climate Action Reserve (CAR), and therefore the carbon emission reduction standardization company Verra. consistent with Greenidge’s press statement, these three carbon offset consulting agencies will help make sure the efficacy of Greenidge-funded carbon emission reduction and sequestration projects. Greenidge’s goal is to produce 100 percent carbon-free power, it has big environmental action history.
Recently, Greenidge has been faced by local citizens with concerns about the quality of their water. Citizens claim that water near Pepsi Industries’ Seneca Lake manufacturing plant has an odor and taste of chemicals. The scent is difficult to detect, but the aftertaste is distinguishable to any resident who drinks Seneca Lake tap water regularly. Residents have also noticed a decrease in aquatic wildlife in and around Seneca Lake since Pepsi’s presence on the lake in 2009, but the NASDAQ company has denied those beliefs.