In a fresh analysis focusing on Bitcoin and its alignment with environmental, social, and governance (ESG) principles, the ‘Big Four’ accounting titan KPMG delves into the digital currency’s promising contributions to this movement. The professional services entity highlights four carbon-reduction techniques adopted by bitcoin mining firms across the entire mining sector.
KPMG Report Discusses Bitcoin and ESG Standards
KPMG’s analysis describes how bitcoin (BTC) miners, seeking proximity to inexpensive renewable energy sources such as solar and wind, reduce costs. This practice creates additional revenue to support more renewable energy projects in remote areas. The flexible computing load of bitcoin can also assist in balancing electrical grids by cutting demand during peak periods. KPMG researchers detail how bitcoin miners used a demand response system to aid Texas during a winter storm in 2021. The report states:
During Winter Storm Uri, which took place in Texas in Februa
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