PayPal’s Blockchain Research Group and EnergyWeb, a non-profit renewable energy organization, have created an “energy verification platform” for Bitcoin miners.

Bitcoin will be given

In the statement made by PayPal, it was stated that the platform will monitor mining operations and reward companies with less carbon emissions. PayPal’s offer includes giving Bitcoin rewards to miners who spend “green energy.” Not only companies but also individual miners will be able to benefit from this incentive program.

As it is known, the mining of Bitcoin and other cryptocurrencies using the PoW system has been discussed globally for many years.

Tesla had left

The last big move on the subject came from Tesla. The electric vehicle manufacturer, which bought $1.5 billion worth of Bitcoin in 2021, later started selling vehicles with Bitcoin payment. Shortly after this decision, company owner and CEO Elon Musk stated that they suspended this situation due to the fossil fuel consumption of mining and the “damage it causes to nature”.

While many companies, especially those based in the USA, still largely use fossil fuels for their mining activities, this rate has been decreasing over the years.

Mining companies listed on Nasdaq, such as Iris Energy, Cleanspark and Bitdeer, mine largely with renewable energy.

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