Sustainable Bitcoin Protocol pioneers new method for institutions to keep climate positive Bitcoin
In a landmark transaction, Sustainable Bitcoin Certificates (SBC) have been issued alongside clean energy mined bitcoin and sold to a bitcoin specialist company Melanion Digital.
NEW YORK, February 17, 2023–(BUSINESS WIRE)–Sustainable Bitcoin Protocol (SBP), a climate technology startup, believes that global interest in Bitcoin can become a powerful tool to drive the energy transition. By encouraging the use of renewable and clean energy for bitcoin mining, Bitcoin’s energy-intensive processes can be harnessed to create a climate-positive resource which funds the development of renewable and clean energy on a scale far greater than the total amount of energy that the Bitcoin network could ever consume.
SBP has pioneered a process that captures the value of bitcoin mined using clean energy by creating a new tokenized environmental asset called the Sustainable Bitcoin Certificate (SBC). SBC can be sold to institutional investors and held alongside bitcoin to ensure that an investor’s holdings are verifiably climate positive and exceed their environmental goals.
SBC can be made using one of three processes – each of which aids the energy transition through a different mechanism. These include the use of renewable forms of energy such as solar, water and wind; investment in and financial support for renewable energy via the purchase and retirement of energy attribute certificates such as RECs; and adopt technologies for the reduction of CO2e (ie reduction of waste methane gas). To earn SBC, bitcoin miners must pass a third-party audit of their clean energy usage.
“Bitcoin has long been criticized for its energy consumption, but we are turning that perception on its head. By creating a verifiable climate-positive asset, we are harnessing the power of Bitcoin to drive the transition to clean energy and fight climate change,” said Brad Van Voorhees, co-founder and CEO of the Sustainable Bitcoin Protocol. “Our team has worked tirelessly to develop the protocol and we are excited to see the impact it will have on the crypto industry and the fight against climate change. I believe this is just the beginning of a new era for bitcoin as the ultimate climate-conscious investment.” “
To work towards the goal of using 100% renewable energy to mine bitcoin, CleanSpark, one of the most prominent sustainable bitcoin miners in the US, has participated in the first Sustainable Bitcoin Protocol transaction, earning the first issued SBC after successfully success. complete a third-party clean energy audit.
“We believe bitcoin mining is a unique catalyst in the world’s transition to a 100% clean energy future,” said Zach Bradford, CEO of CleanSpark. “We are pleased that SBP shares this belief and look forward to continuing to support the SBP team as it works on new ways to enable sustainability-focused funds and companies to trust and embrace bitcoin.”
These newly minted SBCs were sold by CleanSpark to bitcoin specialist company Melanion Digital, which is committed to investing in the sustainability of bitcoin as part of its long-term investment strategy.
“We are proud to announce our commitment to improving Bitcoin’s environmental reputation and leading the way in sustainable mining. As pioneers in the industry alongside mining company CleanSpark, Melanion Digital is pleased to be the first company to join the Sustainable Bitcoin Protocol to pioneer way to finance renewable energy projects by mining bitcoin with clean energy. We invite others to join us in enabling the Bitcoin ecosystem to act for the planet, creating a more sustainable future for all,” said Cyril Sabbagh, president and co-founder of Melanion Digital.
SBP is venture-backed and works with world-leading climate scientists, economists, NGOs and academic institutions to ensure that the protocol is governed with the planet in mind. To learn more about SBP visit www.sustainablebtc.org. To become a verified clean energy miner with SBP or learn how to buy SBC, contact www.sustainablebtc.org/contact.
About the Sustainable Bitcoin Protocol
The Sustainable Bitcoin Protocol (SBP) is a global sustainability protocol designed to help bitcoin become our planet’s most sustainable asset class, while preserving the network’s fungibility and long-term integrity. SBP works closely with leading non-profit organizations and standards bodies in renewable energy and energy auditing, to issue Sustainable Bitcoin Certificates (SBC) to miners who are verified to use renewable and clean energy. SBP’s investors include BitDeer, Hawksburn Capital, New Layer Capital, BlackPine, Verda Ventures, Stacks Accelerator and prominent angels in institutional finance. For more information about SBP or to become a partner, visit https://www.sustainablebtc.org.
About Melanion Digital
Melanion Digital is a company at the heart of the Bitcoin ecosystem with an innovative business model. Melanion Digital’s mission is to guarantee an easy and effective way to gain exposure to the technological and financial revolution brought to the world by the Bitcoin protocol. The company has developed a clear investment strategy, presented by the acronym HTML (Holding, Trading, Mining and Lending) with a focus on long-term sustainability of green and clean bitcoin. For more information about Melanion Digital, visit https://www.melanion.com.
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