Cryptocurrency

ETC Group Announces BTCE Will Be The First Bitcoin (BTC) ETP With Carbon Neutral Feature

ETC Group announced today that its crypto ETP, ETC Group Physical Bitcoin (BTCE), will be the first Bitcoin ETP with a carbon neutral feature.

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ETC Group will thus offset BTCE’s carbon footprint in combination with hand-selected, high-quality carbon credits that compensate for the CO2e1 emissions associated with BTCE Bitcoin mining. These carbon credits, supported by the world’s leading first-time clusters, will also support other projects of this type.

Bradley Duke, CEO of ETC Group, made a statement regarding the company’s announcement:

“Companies leveraging cryptocurrencies like Bitcoin are right to take meaningful steps to quell climate panic. We are happy to see Bitcoin miners increasingly supplying renewable electricity, but we at ETC Group believe it is worth doing more and taking action now. That’s why we started our attempt to calculate the carbon footprint of our Bitcoin work, and we’ve balanced that with high-quality projects curated and tracked by some of the world’s most respected climate action companies. ”

ETC Group will also fund a number of projects to offset all Bitcoin-related Scope 3 emissions. ETC Group also announced that it will join the Crypto Climate Accord, a cluster that aims to actively make the entire crypto industry carbon neutral.

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