Cameron and Tyler Winklevoss's crypto platform Gemini Trust traded nearly $4 M in credits to help offset the carbon impact of the BTC it holds in custody.
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On June 24, the exchange released a blog post about the undertaking "Gemini Green" informing about a $4 M contribution to the non-business entity founded by the University of Chicago, Climate Vault. The latter employs the opportunities of compliance markets to reduce CO2 damage.As stated in the post, Gemini spent over $4 M to offset the CO2 emanations caused by the company's usage of the BTC Protocol, between January 1 and June 30, 2021. Due to the carbon permits, 341,965 metric tons of CO2 won't enter the surroundings.
The company mentioned they will continue actions of making the system more environmentally friendly afterwards.
Apart from the offset acquirement, Gemini has raised $1 M to support ideas meant to deliver sustainability in the crypto sector. The Gemini team mentioned the importance of crypto and the possibilities it offers.Bitcoin enthusiasts and companies around the world are working on ways to use more green energy in the mining process. There was arranged a Bitcoin Mining Council to join enterprises and individuals interested in the initiative.