BITMAIN funded firm SAITECH – To Completely Decarbonize Its Crypto Mining Operations




According to a news report released on June 29th, SAITECH plans to power its cryptography operations entirely with renewable energy by 2060, reducing its carbon footprint significantly in line with China’s powerful national decarbonization policies. By the end of June, they hope to have addressed the climate change crisis.

SAITECH Carbonization and greening

They estimate that renewable energy will meet up to half of China’s energy needs by 2030. Together with their aggressive designs based primarily on heat recirculation and conversion to energy efficiency projects such as heating greenhouses, the country will continue to reduce its carbon footprint from its current level.

SAITECH has committed to this goal in line with SAITECH’s participation in the United Nations Framework Convention on Climate Change (UNFCCC) Climate Neutral Now initiative, which aims to make it the first digital asset company to promote clean energy usage. The United Nations Framework Convention on Climate Change (UNFCCC) provides scientific methods to assist businesses in reducing their carbon footprints. SAITECH agrees to reduce carbon emissions and achieve carbon neutrality by focusing on clean computing power under the terms of this agreement.

Source: Fox Business

OCEC

The Clean Energy and Computing Organization (OCEC) has now been formed to include crypto-monetary mining firms among others. Access to green energy sources, technical guidelines on how to convert thermal to renewable energies from their energy sources, and other benefits come with membership in that group.

So far, SAITECH has received $2.8 million in funding from Genis Capital in a round driven by cryptographic investment by cryptographers and Bitcoin’s mining energy needs. During its seed round, Bitmain, the world’s leading Bitcoin mining equipment chipset manufacturer, contributed $1.4 million. 

Bitcoin mining and other proof-of-work consensus systems have recently fueled environmentalist fires. Governments are being pressed to address cryptocurrency mining operations despite their massive energy demands, which are being criticized by fossil fuels. 

China tightens its grip. 

According to BTCManager, the Chinese government has begun cracking cryptomines in major hubs across the country, including Xinjiang and Sichuan.

Read more: http://www.opinion-nytimes.com/




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