Tesla had smeared the market last week by announcing that the company would no longer support Bitcoin payments for its electric vehicles. A Bitcoin mining company pledged to be “carbon neutral” by the end of the year after Tesla stopped its BTC payments for environmental reasons.
Greenidge Generation Bitcoin Mining announced that they have promised to be carbon neutral in 2021 and beyond. The news has already attracted the attention of the cryptocurrency world.
After announcing plans to expand Bitcoin mining operations last month, Greenidge is now considering going completely carbon neutral this year and in the future. The company is committed and plans to invest in US-based renewable energy projects.
According to a recent press release, the company will also participate in the Regional Greenhouse Gas Initiative, a market-based program where participants sell CO2 allowances through auctions and invest their revenues in renewable energy and energy efficiency.
Speaking on the subject, the company’s CEO, Jeffrey Kirt, said:
“Our bitcoin mining capability is already best in class and seamlessly integrated with our electricity generation powering thousands of homes and businesses. Unlike some distant histories in the future, Greenidge took a unique step by immediately becoming completely carbon neutral and is once again leading environmental efforts.
Greenidge’s announcement came days after leading electric vehicle manufacturer Tesla announced that it would no longer support Bitcoin payments. The company cited environmental concerns regarding Bitcoin mining as a reason for its decision.
Elon Musk, the company’s CEO, stated that he takes a good look at cryptocurrencies, but does not take good care of some because they have a negative environmental impact.
The company also said it is looking for ‘greener’ alternatives to Bitcoin so that it can continue to accept crypto payments. This has sparked a lot of speculation as to which cryptocurrency to choose. Soon after, Musk announced that he was working closely with Dogecoin developers to improve transaction efficiency, leading many to think that this green coin would be DOGE.