How Mawson Infrastructure Group Is Solving Bitcoin’s Sustainability Problem


    Photo by Nuno Marques on Unsplash

    There’s no denying that the energy required to mine Bitcoin is enormous. According to the Cambridge Centre for Alternative Finance, the global Bitcoin market consumes about 100 terawatt-hours of electricity per year. That’s 0.55% of the electricity consumption of the entire world, on par with the usage of whole countries like Sweden or Malaysia.

    With climate change already being a major concern across the globe, high energy usage presents a compelling issue for the Bitcoin community. Today, if a technology is to be truly transformative, even revolutionary as many hope Bitcoin to be, it may need to address the climate crisis. Many believe that it has to help move society into a sustainable future.

    A Greener Method to Mine

    Mawson Infrastructure Group (OTCQB: MIGI) is attempting to do just that. In a recent presentation at Benzinga’s Crypto Conference, CEO James Manning stated, “We’re looking to leverage a long-term strategy to transition the world into a decarbonized society.” The company believes it can be a leader in making Bitcoin mining green.

    While much of the mining industry relies on carbon-emitting energy sources, Mawson is committed to using sustainable sources of energy. About 80% of the company’s current energy mix is renewable/non-carbon emitting, and it hopes to make that 100% over time. Mawson’s roadmap has the company operating with a fully sustainable energy mix in 5 to 10 years.

    The key to achieving this milestone lies in the selection of locations for the company’s mining facilities. Mawson looks for power plants with large surpluses of electricity and places highly efficient mining operations near them, like its state-of-the-art facility in Sandersville, GA, allowing the company to use “stranded and distressed” energy assets to power its mining operations.

    Sustainable Makes for a Better Blockchain

    Alongside Mawson’s commitment to sourcing sustainable energy, it has a robust reforestation program. It will have planted 25,000 trees in 2021 and will plant 53,000 in 2022. That’s 1 tree for every block created on the Bitcoin blockchain that year.

    Mawson’s focus on good corporate citizenship doesn’t stop with sustainability. “It’s how you engage with the community as well,” Manning says, “Our view is that being good social citizens gives us a right to operate in the space.” Environmental, social, and governance (ESG) efforts are at the core of the company’s business. With most of the major players in the space sourcing their energy primarily from carbon-emitting facilities, Mawson stands out with its commitment to realizing the full revolutionary potential of Bitcoin. In combination with its broader ESG efforts, this pledge might bode well for the company’s future.

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