News View Non-AMP

PayPal Partners for Greener Bitcoin Mining; EWT Token on the Rise!

Published by
Debashree Patra

In a recent revelation, crypto analyst Chico Crypto highlighted a significant partnership that could reshape Bitcoin mining. At its core is PayPal’s bold move to promote eco-friendly practices in the industry.

Sounds exciting, but what is it all about? Let’s dive into the details below.

Joining Forces for Good

PayPal has joined forces with Energy Web and DMG Blockchain Solutions Inc. Their goal? To encourage miners to switch to low-emission energy sources. Through Energy Web’s Green Proofs for Bitcoin Initiative, miners can now earn certifications for sustainable mining, paving the way for a greener future.

EWT Tokens – Limitless Potential?!

Among the collaborations, Chico Crypto pointed out the importance of EWT tokens, Energy Web Chain’s native currency. These tokens, used for energy sector transactions, could accelerate Bitcoin’s journey towards sustainability. With PayPal and Blackrock’s interest in the energy sector, EWT’s demand might soar.

Paradigm Shift in Climate Accounting

Moreover, Chico Crypto uncovers PayPal’s partnership with South Pole Global and the Crypto Carbon Ratings Institute, which jointly developed a Crypto Climate accounting framework. This framework, crafted with input from PayPal’s Blockchain, Crypto, and Digital Currencies (BCDC) team, lays the groundwork for greenhouse gas accounting within cryptocurrency value chains.

Notably, South Pole Global’s involvement in the D-REC initiative and Energy Web’s pivotal role in this space underscores the interconnectedness of these partnerships and their potential impact on sustainability efforts.

Sustainable Ventures

Interestingly, BlackRock’s involvement in sustainable aviation fuel (SAF) efforts highlights its participation in the Clean Skies for Tomorrow initiative by the World Economic Forum and RMI. This initiative aims to create a system for SAF certificates (SAFc). With BlackRock’s interest in SAF and mention of SAFCs in its TCFD report, there’s speculation about the firm using Energy Web’s network to support its sustainability goals.

Did You Know? Wall Street Goes Crypto! BNY Mellon Invests in Bitcoin ETFs

Facing the Critics

Critics argue that bitcoin mining has detrimental environmental effects, such as air and water pollution, as well as excessive energy consumption. Reports suggest that bitcoin mining consumes 127 terawatt-hours (TWh) yearly, exceeding Argentina’s energy usage. A New York Times analysis highlights that Bitcoin miners collectively use about seven times the energy consumed by Google annually for its global operations.

Could Energy Web become the go-to solution for sustainable crypto mining? Let us know what you think!

Debashree Patra

Fun-loving and cheerful, a passionate blockchain and crypto writer who knows no boundary…connect if you share the same passion. With 10+ years of writing experience, I am a Crypto Journalist by chance, exploring, and learning all the dynamics of the sci-fi action-filled crypto world. Currently, focusing on cryptocurrency news and price data. With a passion for research and challenging my capabilities, I am slowly getting into the crypto arena to bring new insights every day.

Recent Posts

Why Is the Crypto Market Going Up Today? BTC, ETH, XRP, and Pi Network Bounce Back Strong

After a nerve-wracking weekend packed with geopolitical tension and market dips, the crypto market is…

June 23, 2025

Ripple News: Can Billions of Dormant XRP Save the Token From Its $2 Breakdown?

It’s been a rocky weekend for XRP holders as the token’s price took a sharp…

June 23, 2025

Shiba Inu Price Prediction 2025, 2026 – 2030: Will SHIB Price Hit $0.00005?

Story Highlights The live price of SHIB memecoin is SHIB token price could reach a…

June 23, 2025

Tron Price Prediction 2025, 2026 – 2030: Can Tron Reach $1?

Story Highlights The live price of the Tron coin is Tron crypto could reach a…

June 23, 2025

Binance Coin BNB Price Prediction 2025, 2026 – 2030: Will BNB Hit New ATH?

Story Highlights Binance Coin Price Today is . The BNB price prediction anticipates a potential…

June 23, 2025

Ethereum Price Today Hits $2,262 — Institutions Stack $113M Worth of ETH!

In the past week, when the Iran-Israel conflict was at its peak, the recent US…

June 23, 2025