Mawson Infrastructure Group Pledges Net Carbon Neutral Crypto Mining Practices by 2030

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The world might be running low on power for Bitcoin miners. 

Following China’s ban on cryptocurrency and the subsequent “Great Mining Migration,” miners flocking to crypto-friendly environments have increased nations’ power expenditure to a significant degree. Kazakhstan, for example, has become the world’s second-leading Bitcoin mining nation following China’s ban, and it’s already had to shut down three major coal-fired power plants due to excessive power expenditure.

"We have seen that our [country's] electricity consumption has literally increased by 7% in one year," Energy Minister Magzum Mirzagaliyev said on September 30, noting that consumption usually grows by about 2 percent per year. The Kazakhstan government has begun rationing electricity for those who “over-consume” power. 

This pattern extends into countries like Iceland, which has experienced similar influxes of miners followed by subsequent power shutdowns. The country’s main energy provider, Landsvirkjun, turned away new Bitcoin miners in December. In addition to power outages, carbon emissions powered by Bitcoin (BTC) mining initiatives have placed Bitcoin miners under intense scrutiny from investors, citizens and regulators.

However, some miners like Bit Digital Inc. BTBT, Riot Blockchain Inc RIOT, Hut 8 Mining Corp HUT, and Mawson Infrastructure Group Inc. MIGI have already begun developing innovative sustainability practices to curtail crypto mining’s carbon footprint. 

Sustainability Goals and Missions

Mawson is an example with a sustainability-focused approach to its mining practices.

Building an energy-focused digital asset infrastructure has reportedly been at the core of the company’s business model since its inception. Staying true to its mission to build a sustainable business for investors and the planet, the company claims that 75% of non-carbon emitting energy (nuclear, hydro, wind) powers its operations and that it is on track to achieving its net carbon neutral goal by 2030. Mawson reportedly offset 100% of its carbon emissions in 2020, sequestering a total of 22,277 tons of harmful carbon emissions.

Additionally, Mawson has planted 25,000 trees in 2021 and plans to plant another 53,000 in 2022. This objective is consistent with the company’s mission to plant a tree every time a block is created on the Bitcoin blockchain. Mawson has taken this commitment to the environment to a global scale, funding a renewable energy project in India, a native reservation project in Australia and a conservation project in Turkey. Mawson has also sponsored Buhl Park in Pennsylvania (which is close to its newest Bitcoin mining facility) - a local park dedicated to serving its local community.

From 2022 to 2025, the company plans to continue to assess new site acquisitions and developments through its Net Zero 2030 strategy – at all times targeting a majority renewable energy mix.

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