Company seeks to advance public understanding of bitcoin mining, while dispelling misinformation, and advocating against building new fossil fuel energy generation
Bit Digital , a leading digital mining company headquartered in New York City with facilities across North America, reiterated its proactive environmental track-record. The Company will shortly submit a formal written testimony to the New York State Senate Standing Committees on Environmental Conservation, Energy and Telecommunications, and Internet and Technology. The company also announced its intention to provide similar information to certain Members of Congress, following an information request by the office of U.S. Senator Elizabeth Warren and several of her colleagues.
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“Our company has made it a point to take a leadership position regarding sustainable practices in the crypto mining industry,” said Bryan Bullett, Chief Executive Officer, Bit Digital. “It is at the core of what we do and who we are, because Bit Digital understands that to be successful, our operations must drive innovation and economic opportunity for all members of society—while doing so in a sustainable and eco-friendly manner.”
Bit Digital recently participated in a New York State legislative roundtable regarding the environmental impacts of crypto mining and the industry’s long-term role in the State economy. The roundtable was organized by New York State Senate committee chairs Senator Todd Kaminsky, Senator Kevin Parker, and Senator Diane Savino. The panel was an opportunity for key stakeholders and experts to examine and discuss various issues related to digital mining. During that discussion, Bit Digital focused on the company’s commitment to environmentally conscious business practices and vowed to assist policymakers in their efforts to better understand benefits and best practices of crypto mining.
Bit Digital’s commitment to sustainability is highlighted in three simple ways:
- Utilizing clean energy in their operations
- Signing on to the Crypto Climate Accord (CCA)
- Joining and embracing the clean energy goals of the Bitcoin Mining Council (BMC)
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“We welcome this high-level dialogue that is beginning to take shape in Albany and Washington, and at other levels of government regarding the future of crypto mining,” continued Bullett. “Now is the moment for the many aligned actors within our industry to step up.”
Bit Digital has strategically sought to increasingly pursue and deploy clean energy in its operations. Hydroelectric, solar, and wind power have helped mitigate the environmental impact of its operations. The Company also seeks to participate in load balancing / voluntary curtailment programs that can help the grid accommodate intermittent renewables.
The Company currently works with an independent ESG consultant, APEX, to self-monitor, set targets, provide transparency, and help improve Bit Digital’s percentage of green electricity and other sustainability initiatives. Apex’s ESG Ratings and Advisory tools allow Bit Digital to benchmark its ESG performance against international standards and peer performance, and to identify opportunities for improvement and progress over time. By measuring the sustainability and footprint of Bit Digital’s mining through this process, the company develops targets to continuously enhance its clean energy usage.
In addition to proactive, eco-focused operations, Bit Digital has aligned itself with the future of technology and crypto mining as a signatory of the Crypto Climate Accord (CCA). The CCA is a private sector-led initiative to decarbonize the crypto and blockchain sector. The CCA brings together organizations that inform, develop, test, and implement new solutions to accelerate crypto’s transition to renewable energy. The Accord provides an open space to address challenges, gather requirements, showcase solutions, share learnings, and promote best industry practices.
By becoming a CCA Signatory, Bit Digital made an important public commitment to supporting the “#MakeCryptoGreen” movement. And as a CCA Signatory, Bit Digital has committed to achieve net-zero emissions from the electricity consumption associated with its respective crypto-related operations by 2030 and to report progress toward this net-zero emissions target using best industry practices.
Bit Digital is also a member of The Bitcoin Mining Council (BMC), a voluntary and open forum of bitcoin mining companies and other companies in the bitcoin industry that are committed to the bitcoin network and its core principles. The BMC promotes transparency, shares best practices, and educates the public on the benefits of bitcoin and bitcoin mining. The company has participated in the latest BMC survey of sustainable power and is refining its strategy to further prioritize the use of carbon-free energy in its operations. In the future, Bit Digital intends to operate on 100% carbon-free power.
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