Over the pilot period, Bitcoin to the value of GBP 1.5 million has been covered by Zero Hero REC purchases, with a total of 850 megawatt-hours (MWh) of electricity compensated via the programme.
The Zero Hero results are presented in Zumo’s new report – ‘Decarbonising Crypto: Towards Practical Solutions’. As well as examining the outcomes of the project, the report offers a range of practical takeaways for crypto solution providers encompassing best attribution methodology and best practice approaches to renewable energy procurement.
The report argues that REC markets must increase in sophistication and in efficiency if they are to meet the current requirements of net zero strategies. Crucially, crypto – as an emerging electricity-focused sector – has a unique opportunity to shake up this marketplace and signal a new wave of demand.
For the next stage of its work, Zumo and its partner, Zero Labs, have been awarded a grant by Innovate UK, the UK’s national innovation agency, to further fund research into the decarbonisation of crypto.
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