arkreen and HashKey Launch GreenBTC.Club for Bitcoin Carbon-Neutrality
Updates on Main Stage Day 3:Leo Lin, Founder of arkreen, launches GreenBTC.Club at Hong Kong Web3 Festival for sustainable Bitcoin
GreenBTC.Club, a carbon-neutral Bitcoin application, was launched on April 14th through a joint effort by arkreen and HashKey. During the Hong Kong Web3 Festival, Leo Lin, Founder of arkreen, delivered a speech on the main stage to introduce the project to the community and encourage both in-person and online audiences to actively participate and contribute to carbon neutrality for BTC.
During Leo’s live speech, he mentioned the extensive research conducted by Cambridge University on the energy consumption of the Bitcoin network. This has become a major concern due to the significant carbon emissions generated by BTC. The network’s energy consumption averages at 14 million kWh per hour, making it crucial to take action to reduce its carbon footprint. Although some BTC mining farms have transitioned to green energy sources to achieve carbon neutrality, the issue of historical carbon emissions remains. To address this, Leo suggested the use of green certificates, such as Renewable Energy Certificates (REC), which are issued for every 1000 kWh of green energy generated from certified renewable sources like wind and solar power. Purchasing a REC enables individuals and businesses to offset the carbon emissions produced from using 1000 kWh of brown energy from thermal sources.
arkreen and HashKey have launched GreenBTC.Club, an application aimed at making BTC carbon-neutral. They chose Block №779089, created in the afternoon of March 3, 2023, as their first target, which consumed over four million kWh of energy. The block was then divided into over two thousand cells, with each cell representing a carbon offsetting task. By purchasing a cell, participants can complete a green BTC task equal to 2000 kWh. The GreenBTC.Club aims to use the community’s consensus and cooperation to offset the block’s carbon emissions and redeem the two thousand kWh of electricity.
Leo invited the BTC community to participate in the green BTC task, emphasizing that it is not only a collective responsibility but also a great opportunity to accelerate the sustainable development of the Bitcoin network through the use of green certificates for carbon offsetting. He also expressed the intention to use community-based methods to achieve carbon neutrality for more BTC blocks in the future.
During the press conference, Leo expressed gratitude to all the companies and projects involved in the establishment of GreenBTC.Club. Nine representatives claimed different numbers of cells and completed their green BTC carbon offsetting tasks.
Professor Haitian Lu from the Hong Kong Sustaintech Foundation addressed the issue of Bitcoin mining rigs’ energy efficiency ratio, which has been a growing concern. To address this, GreenBTC.Club created eighteen NFTs representing key models in the history of Bitcoin mining rig development. These models’ energy efficiency ratios have improved over time, and the initial pricing of these mining rig NFTs is related to the electricity consumption required by the corresponding model when it was released on the Bitcoin network. All proceeds from the auction of these NFTs will be used to purchase corresponding REC, which can be used to achieve carbon neutrality for the Bitcoin network through the REC protocol.
Leo LIN concluded his speech with a powerful call to action, urging everyone to rally behind GreenBTC.Club’s carbon-neutral application for BTC. He emphasized the importance of working towards the long-term goal of achieving carbon neutrality for the Bitcoin network and urged the community to come together to build a sustainable and environmentally friendly Bitcoin network.
