BitMEX is pledging to go carbon neutral. BitMEX is a Crypto derivatives trading platform. However, it is having its fair share of bad press over the past year.
It is trying to contribute to the cleaning up of the broader industry’s image. It is doing this by addressing growing climate concerns over the carbon footprint of proof of work currencies like Bitcoin.
It made an announcement which got published on May 21st. The exchange said that there are ostensibly wildly divergent views regarding the climate risks posed by cryptocurrencies. But BitMEX feels that it is the responsibility to take positive action.
Moreover, the company is trying to donate $0.0026 for every $1 of blockchain fees its users payout. However, the recipient organization’s details are not confirmed yet.
BitMEX says that it is currently researching setting a partner and will release further details in due course. Though carbon offsetting is not the only answer to concerns relating to the environmental footprint, it can certainly be a good start.
The exchange has taken the figure from rough calculation published by Sam Batman-Fried, the CEO of cryptography derivatives exchange FTX and Alameda research. According to Sam’s study, the amount should be enough for crypto firms to offset their carbon emissions.