The shares of Gryphon Digital Mining, Inc. (NASDAQ: GRYP) are experiencing an ascent on the trading charts today, marking a 13.96% increase to $2.16 as of the last check this morning. This surge in Gryphon’s stock value is attributed to recent endeavors aimed at reducing carbon emissions.
Gryphon (GRYP) has officially declared the completion of its two annual assessments of carbon emissions in collaboration with its partner, CarbonChain. Gryphon has consistently employed CarbonChain’s services to conduct meticulous and impartial evaluations of its emissions on an annual basis.
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This endeavor holds significant importance as it enables Gryphon to ascertain its progress towards achieving net-zero emissions and even carbon negativity, thereby setting higher standards for transparency in carbon emissions within the bitcoin mining sector.
During the fiscal year of 2023, GRYP relied on renewable energy sources for over 98% of its operational needs. As of the year 2024, Gryphon has commenced operations with 100% reliance on renewable energy sources, a move that precedes its recent merger with Akerna Corp.
This recent development follows Gryphon’s noteworthy achievement last year, where it became the inaugural bitcoin miner to obtain the Sustainable Bitcoin certification bestowed by Energy Web, an independent non-profit organization dedicated to developing open-source software for clean energy solutions.
This certification, known as Green Proofs for Bitcoin (GP4BTC), represents a pioneering initiative aimed at establishing an impartial and standardized system for measuring energy consumption in the bitcoin mining industry.
It underscores over two years of collaborative efforts between GRYP, Energy Web, and prominent asset management firms and clean energy research institutions worldwide. GRYP’s consistent dedication and leadership in this area are demonstrated by its verifiable adherence to its promises to prioritize Environmental, Social, and Governance (ESG) values and its public disclosure of carbon footprint.
About 98% of its activities were powered by renewable energy sources for the 2023 fiscal year; this percentage will rise to 100% in 2024. Gryphon is a leader in the field of zero-emission bitcoin mining since it only uses renewable energy sources, which reduces its environmental effect.
