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Bitcoin-Mining Power Plant Mentioned by Elon Musk to Go Carbon-Neutral

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Fri, 14/05/2021 - 18:15
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Bitcoin-Mining Power Plant Mentioned by Elon Musk to Go Carbon-Neutral
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New York’s Greenidge power plant—which has been repurposed for Bitcoin mining in 2017—is going to be entirely carbon-neutral starting from June, Reuters reports.    

It will achieve this by purchasing carbon offsets, which allow to balance out the CO2 footprint by funding green projects.

Greenidge’s announcement came just one day after Tesla CEO Elon Musk mentioned the company as proof of Bitcoin’s wastefulness.

Related
The e-car manufacture ditched the cryptocurrency as a means of payment earlier this week due to environmental concerns, causing a sharp drop in its price.

Bitcoin is currently trading at $50,606 on Bitstamp.

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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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