Friday 19 November 2021

The first bitcoin powered by renewable energy?

A start-up claims to be the first cryptocurrency company to offer a net zero bitcoin – powered by entirely renewable energy.

Zumo has announced that users of its app can purchase a bitcoin that is verified by renewable energy certificates to prove the electricity used to create it is 100% clean.

The bitcoin network is the most carbon-intensive digital currency and the start-up has looked to give its buyers a greener alternative through what its calling the ‘Zumo Zero’ net zero strategy.

Kirsteen Harrison, Sustainability Adviser, said: “As our industry matures, we have the unique opportunity to ensure we develop the products and behaviours that will help the future of our Earth.

“We’re determined to play our part in setting a positive example and showcasing what industry-wide decarbonisation could look like.

“Miners, platforms, users - we’re all going to have to pull together on this, which is why we continue to work closely with our partners and the wider industry to deliver the transformational change we all know will be required to meet our ambitious net zero targets.”