The company said that it is working with Isla Verda Capital to sell carbon offsets to miners who get their power from renewable energy sources.
BlockFills, a company that provides crypto financial services and technology, is working with Isla Verde Capital to offer environmental credits to crypto miners to help them make up for the carbon they release.
Crypto miners, especially those on the Bitcoin network, have been getting a lot of heat for the amount of CO2 they release. The industry uses as much energy as some small countries, and not all of it comes from renewable sources, which has bothered environmentalists and government officials.
A press release on Tuesday said that BlockFills will sell carbon emissions offsets, renewable energy credits (RECs), and other carbon accounting tools to miners through a partnership with Isla Verde, a company that specializes in this kind of service. RECs are certificates that show how much electricity was made from clean sources.
Neil Van Huis, a partner and director at BlockFills, said in the press release, “Miners are looking for long-term solutions to their energy problems while also facing public scrutiny over their consumption and carbon footprint.”
Ronnie Virissimo, co-Chief Investment Officer at Isla Verde, said, “It is becoming more important for all groups, especially those on the blockchain, to be proactive about reporting on and reducing their carbon footprint, because there is a greater chance that rules and regulations will be put in place.”
The White House office for technology and science policy put out a report last week that called for standards to be put in place for the industry so that it has less of an effect on the environment.
