BitMex has delivered on its promise to go carbon neutral, becoming the first crypto exchange to support carbon-neutral blockchain transactions. The platform has announced that it has spent $100,000 on the purchase of 7,110 tonnes of CO2 credits to offset the environmental impact of BitMex’s Bitcoin transactions, as well as the servers that will power the platform for the next year. BitMex has also revealed its plans for the integration of cryptocurrency technologies and environmental conservation methods, recognizing that simply purchasing CO2 Credits will not suffice in the long run.
BitMex Research Initiative
BitMex’s upcoming strategy for long-term crypto adoption will be two-fold. The exchange’s website states that they will begin by investing in research and education about the “true environmental impact” of Bitcoin and other virtual currencies. While the company is focused on deciphering in a more environmentally conscious manner, they also hope to dramatically increase public awareness of cryptocurrency’s “revolutionary potential” to improve livelihood.
“We also want to gain a better understanding of crypto’s revolutionary potential – and societal value – and how it can improve people’s lives.” A comprehensive effort must include not only environmental impact research, but also fundamental education about the possibilities unlocked by crypto technology. We’ve started by submitting this piece by BitMEX Research about how we calculated our environmental footprint, which we hope contributes significantly to the discussion about calculating the impact of Bitcoin transactions.”
Furthermore, BitMex is determined to broaden its reach by micromanaging the Research Program, through which the platform intends to collaborate with individuals and organizations already working on developing innovative and technologically advanced techniques to mitigate cryptocurrency’s unsustainable environmental effects.
“Through our patron membership in Global Digital Finance, an international industry group, and other connections, we will contribute our time, expertise, and resources to ensure that we and other industry players incorporate sustainability into their daily decision making.”