Energy Web Spearheads Green Initiative with GP4BTC Certification for Bitcoin Miners
Energy Web, a non-profit organization focusing on sustainability in the blockchain sector, has launched a pioneering initiative named Green Proofs of Bitcoin (GP4BTC). Aiming to counteract the environmental impact of bitcoin mining, GP4BTC offers a free sustainability registry for miners, assessing their energy usage and effects on the electric grid, according to the Сoindesk.
Several mining organizations, including Argo Blockchain, Cowa, DMG Blockchain, and Gryphon Digital Mining, have received certification as part of the GP4BTC initiative. Bitcoin miners have been under increasing scrutiny due to high energy consumption rates and potential implications for climate change.
In response to such concerns, GP4BTC has designed a scoring system based on miners’ renewable energy credits (RECs) purchases and involvement in demand response programs. These programs empower firms to temporarily power off during peak energy demand periods, thereby reducing strain on the grid.
Though the registry is currently free, Energy Web might consider charging fees for certification or data access in the future. The GP4BTC platform is expected to evolve and may incorporate additional metrics such as waste gas usage.
The new program aligns with the energy purchasing practices of other corporations and aims to promote renewable energy usage among bitcoin miners. Energy Web has previously been involved in the Crypto Climate Accord, a transparency initiative concerning miners’ energy sources.