5. Mitigations
5. Past or ongoing mitigation attempts:
Information about past or ongoing attempts to mitigate negative climate impacts of digital assets. This includes voluntary industry efforts, and cryptocurrencies that are changing their consensus mechanism in order to reduce their energy usage. This also includes climate-focused and energy efficiency regulation or standards efforts by State, local, territorial, tribal, federal, or foreign governments.
Bitcoin Mining Council (BMC)
The largest present day effort in the Bitcoin community to report on and advance the sustainable energy goals of Bitcoin mining as a whole is from the voluntary reporting created by the Bitcoin Mining Council.
They report on their sustainable energy mix from independant miners all over the world and make estimates for total bitcoin mining energy utilization. BMC also works to monitor the ongoing energy efficiency gains in the space largely due to advancements in ASIC chip technologies.
Crypto Climate Accord
Inspired by the Paris Climate Agreement, the Crypto Climate Accord is a private sector-led initiative for the entire crypto community focused on decarbonizing the cryptocurrency industry in record time.
More than 200 companies and individuals spanning crypto, finance, technology, NGO, and energy/climate sectors have joined the Crypto Climate Accord as Supporters.
Source: https://cryptoclimate.org/
An open-source plan to create a "Green BTC Hashrate" monitor has been proposed which can eventually guarantee that all bitcoin mining is done with renewable energy sources.
Public Proofs of Concepts
Efforts within the bitcoin community and in private sectors have lead to creating targets to make bitcoin mining a 100% renewable energy initiative.
A recent, Solar Bitcoin Mining public example has just been commissioned with the efforts of Block, Blockstream, and Tesla. It's important to note that while this is an excellent proof of concept example, the scale is minuscule in comparison to what we need to reach the 2050 goal.
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