In a landmark transaction, Sustainable Bitcoin Certificates (SBC) have been issued alongside bitcoin mined with clean energy and sold to a bitcoin specialized company Melanion Digital.
NEW YORK--(BUSINESS WIRE)--#ESG--Sustainable Bitcoin Protocol (SBP), a climate tech startup, believes that global interest in Bitcoin can become a powerful tool to drive the energy transition. By incentivizing the use of renewable and clean energy for bitcoin mining, Bitcoin’s energy-intensive processes can be leveraged to create a climate positive asset that finances renewable and clean energy development on a scale far greater than the total amount of energy that the Bitcoin network could ever consume.
SBP has pioneered a process that captures the value of bitcoin mined using clean energy by creating a new tokenized environmental asset called the Sustainable Bitcoin Certificate (SBC). SBC can be sold to institutional investors and held alongside bitcoin to ensure an investor’s holdings are verifiably climate-positive and exceed their environmental goals.
SBC can be created using one of three processes—each one aiding the energy transition through a different mechanism. These include the adoption of renewable energy forms such as solar, hydro and wind; investment in and financial support of renewable energy via purchase and retirement of Energy Attribute Certificates such as RECs; and adoption of CO2e reduction mitigation technologies (i.e. waste methane gas mitigation). To earn SBC, bitcoin miners must pass a third-party audit of their clean energy use.
"Bitcoin has long been criticized for its energy consumption, but we're turning that perception on its head. By creating a verifiably climate-positive asset, we're harnessing the power of Bitcoin to drive the clean energy transition and combat climate change," said Brad Van Voorhees, Co-founder, and CEO of Sustainable Bitcoin Protocol. "Our team has worked tirelessly to develop the protocol and we're excited to see the impact it will have on the crypto industry and the fight against climate change. I believe this is just the beginning of a new era for bitcoin as the ultimate climate-conscious investment."
In order to work toward its goal of using 100% renewable energy to mine bitcoin, CleanSpark, one of the most prominent sustainable bitcoin miners in the United States, has taken part in the first Sustainable Bitcoin Protocol transaction, earning the first issued SBC after successfully completing a third-party clean energy audit.
"We believe bitcoin mining is a unique catalyst in the world’s transition to a future of 100% clean energy," said Zach Bradford, CEO of CleanSpark. "We are excited that SBP shares this belief and look forward to continuing to support the SBP team as it works on new ways that enable sustainability-focused funds and companies to trust and embrace bitcoin."
These newly minted SBC were sold by CleanSpark to bitcoin specialized company, Melanion Digital, which is committed to investing in the sustainability of bitcoin as part of its long term investment strategy.
"We are proud to announce our commitment to improving Bitcoin's environmental reputation and leading the way in sustainable mining practices. As pioneers in the industry alongside the mining company CleanSpark, Melanion Digital is excited to be the first company to join Sustainable Bitcoin Protocol to pave the way for financing renewable energy projects by mining bitcoin with clean energy. We invite others to join us in enabling the Bitcoin ecosystem to act for the planet, and in creating a more sustainable future for all," said Cyril Sabbagh, President and Co-Founder of Melanion Digital.
SBP is venture backed and works with world-leading climate scientists, economists, NGOs, and academic institutions to ensure the protocol is guided with the planet in mind. To learn more about SBP visit www.sustainablebtc.org. To become a verified clean energy miner with SBP or learn how to purchase SBC, reach out at www.sustainablebtc.org/contact.
About Sustainable Bitcoin Protocol
Sustainable Bitcoin Protocol (SBP) is a global sustainability protocol designed to help bitcoin become our planet’s most sustainable asset class, while preserving fungibility and long term integrity of the network. SBP works closely with leading nonprofits and standard bodies in renewable energy and energy audits, to issue Sustainable Bitcoin Certificates (SBC) to miners who are verified to use renewable and clean energy. SBP’s investors include BitDeer, Hawksburn Capital, New Layer Capital, BlackPine, Verda Ventures, Stacks Accelerator and prominent angels in institutional finance. For more information about SBP or to become a partner, visit https://www.sustainablebtc.org.
About Melanion Digital
Melanion Digital is a company at the heart of the Bitcoin ecosystem with an innovative business model. Melanion Digital’s mission is to guarantee a simple and efficient way to gain exposure to the technological and financial revolution brought to the world by the Bitcoin protocol. The company has developed a clear investment strategy, presented by the acronym HTML (Holding, Trading, Mining and Lending) with a focus on long term sustainability of green and clean bitcoin. For more information about Melanion Digital, visit https://www.melanion.com.
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