Gryphon Digital Mining Leads the Way in Renewable Bitcoin Mining
In a groundbreaking move towards environmental sustainability, Gryphon Digital Mining has announced that it is currently mining bitcoin using 100% renewable energy. The publicly-traded bitcoin mining company has made its commitment to renewable energy public through a third-party audit, showcasing its dedication to environmental, social, and governance (ESG) principles.
The company has partnered with CarbonChain, an organization that monitors corporate carbon emissions, to track its carbon footprint. According to CarbonChain’s recent report, Gryphon has used 100% renewable energy for its bitcoin mining operations in 2024 and 98% renewable energy in 2023, as per Scope 1 and 2 of the report.
Gryphon’s CEO, Rob Chang, emphasized the importance of transparency in the industry, stating, “We’re 100% renewable, and we’re showing you exactly how it’s calculated. And we’re not even the ones calculating it. It’s a respected third party doing it.”
The company conducts its mining operations through a hosting contract with Coinmint in upstate New York, where it harnesses 100% hydroelectric power for its facilities. Despite concerns about electricity prices in the region due to bitcoin mining, Gryphon’s operation is actually benefiting the local economy.
Chang explained, “Our location is in an economic Opportunity Zone, so, if anything, there isn’t much demand [for power] competing against us. In fact, the existence of bitcoin mining is providing economic power deployment for the region.”
Looking ahead, Gryphon is planning to expand its operations into other jurisdictions that support bitcoin mining and offer favorable economics for renewable energy. Chang stated, “If it’s economic and carbon neutral, we’re there.”
Gryphon’s commitment to renewable energy and transparency sets a new standard for the industry, showcasing the potential for sustainable bitcoin mining practices. For more information on Gryphon Digital Mining, visit the company’s website.
