PayPal’s Blockchain Research Group and EnergyWeb, a renewable energy non-profit, have created an “energy verification platform” for Bitcoin miners.

Bitcoin will be given

PayPal said in a statement that the platform will track mining operations and reward companies with lower carbon emissions. PayPal’s offer includes Bitcoin rewards for miners who use “green energy”. Not only companies but also individual miners will be able to benefit from this incentive program.

As it is known, the mining of Bitcoin and other cryptocurrencies using the PoW system has been discussed globally for many years.

Tesla had quit

The last big move on the subject came from Tesla. In 2021, the electric vehicle manufacturer, which bought 1.5 billion dollars of Bitcoin, later launched the sale of vehicles with Bitcoin payment. Shortly after this decision, company owner and CEO Elon Musk stated that they suspended this situation due to the fossil fuel consumed by mining and “damage to nature”.

While many companies, especially those based in the US, still use fossil fuels for mining activities, this rate has been decreasing over the years.

Nasdaq-listed mining companies such as Iris Energy, Cleanspark and Bitdeer, on the other hand, are largely mining with renewable energy.