Bit Digital Becomes First Publicly Listed Bitcoin Mining Company to Apply for ESG Review
Evening
Elon Musk's tweet regarding Bitcoin acceptance once majority of mining goes green, stirred debate among mining circles regarding the coin mining using renewable energy and if there is a way to to prove it. Going for green mining is easier said than done and even if it is achieved there is no agreeable method of verifying it.
But it seems, Bit Digital, one of the biggest publicly listed Bitcoin mining company has come up with a proposition. As per Bryan Bullett, CEO of Bit Digital, the company has recently filed for a third-party Environmental(E), Social(S) and corporate governance(G) review from Apex Group. He opined that ESG reviews has already been used by many companies and institutional investors to track and verify companies’ adoption and adherence to global green practices & standards.
Once completed, Apex Group ESG score will help Bit Digital to evaluate their Bitcoin mining practices against the prevailing international eco standards, identify potential improvement areas and track their progress in this regard.
With Bit Digital being the first crypto mining to go for a third party ESG review, it remains yet to be seen whether other miners will do the same, as getting mining firm ESG evaluated does posses some real challenges like availability of requisite data necessary to award ESG score.
Whether ESG rating Bitcoin prove to be successful venture or not, Bit Digital's ESG review will certainly serve as a nice test case. We all do live in exciting times.
Fingers Crossed...
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