BitMEX has officially declared its carbon neutral status and has purchased 7,110 carbon credits worth approximately $ 100,000.
Cryptocurrency exchange BitMEX has lost a lot of clients in the past year due to allegations against the founders and a conflict with regulators. The exchange is doing its best to restore its shaken reputation. Now BitMEX has made a knight’s move by joining the trendy environmental agenda.
It was one of the first cryptocurrency platforms to announce its carbon neutral status, and the exchange plans to offset emissions from all of its Bitcoin transactions. The company recently bought 7,110 CO2 carbon credits worth about $ 100,000 in partnership with Pachama, a company dedicated to reducing the environmental impact of mining.
Carbon credits are certificates issued by government agencies that allow corporations to use a ton of emitted carbon dioxide. The company said in a statement that the company will invest in research on the environmental impact of bitcoin and other cryptocurrencies, and work with people and organizations that seek to use innovation to mitigate such risks.
In early October, Greenpeace CEO Jennifer Morgan told Reuters Impact that large corporations are increasingly shirking responsibility for the harm done to the planet.
“We are in a climate emergency and we need to phase out fossil fuels. Compensation schemes allow companies to do what they’ve done before and make a profit, ”she said.
