{"id":225866,"date":"2021-04-13T19:00:00","date_gmt":"2021-04-13T16:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/the-race-to-decarbonize-bitcoin-accelerates-with-decarbbitcoin-labs-initiative\/"},"modified":"2021-04-13T19:00:00","modified_gmt":"2021-04-13T16:00:00","slug":"the-race-to-decarbonize-bitcoin-accelerates-with-decarbbitcoin-labs-initiative","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/the-race-to-decarbonize-bitcoin-accelerates-with-decarbbitcoin-labs-initiative\/","title":{"rendered":"# The race to \u2018decarbonize Bitcoin\u2019 accelerates with Decarbbitcoin Labs initiative"},"content":{"rendered":"

“# The race to \u2018decarbonize Bitcoin\u2019 accelerates with Decarbbitcoin Labs initiative <\/strong>”
\n<\/p>\n

DecarbBitcoin Labs, an environmentally-focused think tank founded by Community Electricity, is taking a hands\u2019 on app<\/a>roach to fighting climate change in California \u2014 and is using Bitcoin (BTC) mining as its first prototype.<\/p>\n

Building off California\u2019s Environmental Justice Program, whose mission is to protect communities that endure a disproportionate share of environmental pollution, Decarbbitcoin Labs is developing a first-of-its-kind prototype in Los Angeles aimed at not only decarbonizing the community but also proving how green Bitcoin will be mined. <\/p>\n

Austin Davis, co-founder of Community Electricity, tells Cointelegrapth that Environmental Justice Communities across the state receive over $1 billion in funding for various decarbonization efforts, including clean electrification of real estate and transportation sectors. \u201cThese attributes represent lower cost and locally produced clean electricity, and of course minimizes the capex on the asset implementation,\u201d he said. <\/p>\n

DecarbBitcoin Labs is bundling all these attributes and applying it to a new strategy centered around Bitcoin mining. Davis explained: <\/p>\n

\u201cDecarbBitcoin Labs is implementing the first prototype of its kind in Los Angeles that will mine 100% Green Bitcoin at origin at a very competitive price for mining pools. The proof of value will be a 1MW block.\u201d<\/p><\/blockquote>\n

Despite offering one of the most transparent monetary systems ever created, Bitcoin has been heavily criticized for its carbon emissions. It\u2019s estimated<\/a> that Bitcoin\u2019s proof-of-work mining produces 45.34 megatons of carbon dioxide every year. <\/p>\n

The state of California was one of the first to codify environmental justice. The state also provides Environmental Justice Small Grants, which provide funding for non-profit community organizations up to a maximum of $50,000. <\/p>\n

DecarbBitcoin Labs is a member of the Climate Crypto Accord alongside blockchain-focused firms such as Coinshares and ConsenSys. The Accord, whose mandate is to reduce the carbon footprint of the booming cryptocurrency industry, is inspired by the 2015 Paris Climate Agreement, a legally binding international treaty on climate change adopted by 196 parties. <\/p>\n

Among the Accord\u2019s various initiatives is to achieve net-zero carbon emissions by 2030. <\/p>\n