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Gryphon Digital Mining Publishes Carbon Emissions Assessment Proving its 100% Renewable Status

Mar 25, 2024
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Gryphon Digital Mining Publishes Carbon Emissions Assessment Proving its 100% Renewable Status

LAS VEGAS, NV / ACCESSWIRE / March 25, 2024 / Gryphon Digital Mining, Inc. (Nasdaq:GRYP) (“Gryphon” or the “Company”) is taking a bold step in ESG leadership by publishing its carbon emissions data publicly. Today’s release of the full report (available here), which includes two annual carbon emissions assessments undertaken by CarbonChain, is the first time a bitcoin mining company has provided a granular accounting of its company’s carbon footprint. Gryphon uses CarbonChain for third-party measurement annually, and recently proved that it is using 100% renewable energy. Gryphon believes that transparency is what will drive the industry forward for achievement of climate goals and responsible corporate decision making.

As previously reported, in fiscal year 2023, Gryphon used over 98% renewable energy, and started 2024 with 100% renewable operations ahead of its merger and listing on Nasdaq. This news followed Gryphon’s receipt in 2023 of the Sustainable Bitcoin certification by Energy Web, an independent non-profit that develops open-source software for clean energy solutions. This certification known as Green Proofs for Bitcoin (“GP4BTC”), is a first-of-its kind initiative to establish an independent, standardized energy measurement system for the Bitcoin mining industry and represents over two years of collaborative work between Gryphon, Energy Web, and some of the world’s largest asset managers and clean energy research organizations.

Releasing the data upon which the Sustainable Bitcoin Certification was awarded to Gryphon is intended to open the door for further transparency and climate accounting initiatives in the bitcoin mining and wider crypto industry. This report provides interesting details about ways that companies can become less impactful on the environment such as choosing greener air freight or shipping options. Gryphon’s management believes that the press and legislators too often comment on energy usage alone, without recognizing that other sources of carbon emissions should be counted and become a part of an overall carbon footprint strategy.

“Championing transparency is a core value of bitcoin and blockchain technology, and something that should be standard for digital asset companies as bitcoin achieves global adoption. Showing by doing has always been the best way to counter false claims about bitcoin mining’s negative impact. If we want support from legislators and the press, the industry needs to step up and use decentralized technologies to transparently prove and verify data on chain – the way it was intended,” said Brittany Kaiser, Chair of the Board of Gryphon Digital Mining.

“Gryphon’s ambition to exclusively use renewable energy is now publicly accounted for, and we hope their approach is adopted more widely as all eyes are on bitcoin companies as the industry booms,” said Adam Hearne, CEO of CarbonChain.

Download and read the report

Interested in learning more?

Download a copy of our investor presentation to learn more about Gryphon Digital Mining and our plans for the future of sustainable Bitcoin mining.