Is it possible to mine Bitcoin (BTC) using only 100% renewable energy sources and deliver the same economic returns as those using carbon-based sources? The answer is yes, according to Square’s recent analysis on the cost of renewables and their impact on Bitcoin mining.
Unfortunately for our industry, the number of headlines and headline-making tweets about Bitcoin’s energy use and potential environmental impact has followed its rise in value in recent months. The increased media scrutiny has led to increased calls for regulatory action and even a proposed bill in the New York State Senate that would place a three-year moratorium on non-renewable Bitcoin mining in the state.
Dan Tolhurst co-founded Gryphon Digital Mining in 2020 with the vision of creating the ESG-driven Bitcoin miner, and looks forward to the day that all Bitcoin mining is done using renewable energy sources. He has deep expertise as a strategy executive from his time at Netflix (NASDAQ:NFLX), The Walt Disney Company (NYSE:DIS) and Booz & Co., in a career spanning five continents. He holds both an HBA and an MBA from the Ivey Business School at Western University and a JD (NASDAQ:JD) from Osgoode Hall Law School at York University. He spends his free time exploring London’s parks, travelling and cheering on his beloved Toronto Raptors.
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