All Articles

Climate Conscious Bitcoin Miners Are Creating Carbon Credits

November 22, 2023
x min read

Electronic waste in data centres is a big problem. A publicly traded Canadian company may have found a new way to handle it.

What’s happening:

  • Toronto based Bitcoin mining and high performance computing company Hut8 (NASDAQ: HUT) has launched a first of its kind effort to recycle outdated hardware and generate carbon credits in the process
  • The new recycling initiative aims to bring Hut8 significantly closer to becoming completely carbon neutral

How it works:

  • Hut8 partnered with electronic waste recycling company ERS International to recycle and re-use electronic hardware that was no longer necessary for their operations
  • The electronics are kept out of traditional landfills by finding ways to responsibly recycle them or sell them to a third party to be re-used
  • Carbon credits are then generated based on every one metric tonne of carbon dioxide that is successfully diverted from landfills

By the numbers:

  • Hut8 was able to successfully recycle 813,425 pounds of out dated ASIC miners, cables, power supply units and other hardware
  • Through recycling or finding ways to re-use those electronics, Hut8 was able to generate 7500 verifiable carbon credits

The intrigue:

  • ERS International is working on innovative ways to upcycle electronic waste by re-engineering new products from hardware that would otherwise end up in landfills
  • So far, they’ve been successfully able to turn electronic waste into products such as plastic lumber benches and other material items

Discover what’s next. The world’s biggest ideas, disruptive trends, most exciting early stage companies and groundbreaking entrepreneurs.

By clicking Subscribe you're confirming that you agree with our Privacy Policy.
Thanks for subscribing!
Keep an eye out for a welcome email shortly.
Oops! Something went wrong while submitting the form.