SkyBridge Capital Sets Eyes on Renewable Energy for BTC

With concern in Bitcoin mining energy usage still raging, Anthony Scaramucci, the CEO of SkyBridge Capital, has predicted that the mining process would be fully renewable by 2030.

Scaramucci made this disclosure during the announcement of the partnership of his firm with climate tech company, MOSS Earth to buy and retire tokens that represent nearly 40,000 tons of carbons. According to the press statement released by the firms, the aim of this partnership is geared towards offsetting the carbon footprint of Bitcoin mining.

This means that the partnership is aimed towards reducing the mining impact of SkyBridge Capital’s multi-strategy funds as well as its First Trust SkyBridge Bitcoin Fund.

Anthony Scaramucci while speaking on the partnership declared that his firm “project that bitcoin mining will be fully renewable by the end of the decade. In the interim, carbon offsets represent an effective way to green the bitcoin network and facilitate adoption by ESG-minded investors.”

Luis Adaime of MOSS Earth hailed Skybridge’s decision to offset the emission of Bitcoin in its holdings as a laudable cause and an example that should be followed by other investors.

Recall that in an earlier report in June, Gemini, the cryptocurrency trading platform owned by Winklevoss twin, announced its planned initiative, called Gemini Green.

Two other leading crypto exchanges, FTX and BitMex, have also made their intention of becoming carbon neutral known as far back as the start of the year.

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