The first-ever certification for sustainable Bitcoin mining

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Bitcoin mining center. Photo by Jasmine Merdan via Getty Images.

A standardized energy measurement system for sustainable bitcoin mining has been launched by Energy Web, an independent non-profit organization dedicated to developing open-source software for clean energy solutions.

In an industry first, the Green Proofs for Bitcoin (GP4BTC) initiative intends to issue certifications to Bitcoin miners based on their use of clean energy and contribution to network stability through response to the request.

Bitcoin mining, the process by which new Bitcoins are created and transactions are verified via the blockchain, has come under scrutiny for its significant electricity consumption and associated environmental impact. Its use of power grids means that it contributes to carbon emissions and strains those grids.

GP4BTC aims to encourage and reward sustainable Bitcoin mining. Energy Web hopes certified miners will have greater access to institutional funding and other benefits when investing in sustainability.

“Bitcoin’s electricity consumption and environmental impact have drawn criticism,” said Amy Westervelt, GP4BTC initiative lead at Energy Web, via a press release.

“While some leading miners strive to reduce their carbon footprint, the industry lacks a unified definition and framework to assess sustainability. Green Proofs for Bitcoin aims to fill this gap.

GP4BTC evaluates miners via two key scores, namely a clean energy score and a network impact score. These scores consider operational data, such as location and power consumption, to assess miners’ use of renewable electricity and demand flexibility. The rating system aligns with best practices for sustainability leadership in other industries, says Energy Web, and with corporate environmental, social and governance (ESG) reporting standards.

The development of GP4BTC was a collaborative effort, involving over 35 miners, non-governmental organizations, network operators and other participants from the energy and crypto markets. The initiative was launched with five Certified Sustainable Bitcoin miners, including Argo Blockchain, Cowa, DMG Blockchain Solutions, Hive Blockchain Technologies, and Gryphon Digital Mining.

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