Gemini launches program that offsets carbon emissions

Charlie Taylor

Gemini, the company that holds the custody of the QBTC11 bitcoin ETF, announced its anti-climate change initiative, Gemini Green. Gemini, an exchange founded by the Winklevoss brothers, announced its long-term initiative to combat climate change, Gemini Green. Gemini Green focuses on the energy consumption of the Bitcoin Network, seeking to offset and reduce all CO2 emissions from energy used by miners. The first step in this mission was to offset any emission from the Bitcoins held in custody by Gemini. In addition to being a broker, Gemini also provides institutional custody services to several companies around the world, including QR Asset Management, the manager of the QR Capital group that has custody of its 100% Bitcoin ETF, QBTC11, held by Gemini. For this, more than $4 million was spent on the purchase of carbon credits, the offset covers the period from January 1st to June 30th, 2022, preventing a total of 341,965 metric tons of carbon from entering the atmosphere. This purchase was made according to a methodology made by Gemini itself, which can be checked on the company's website. In addition to buying offsets, Gemini also made an allocation of US$ 1 million through the Gemini Opportunities Fund to support companies, projects and non-profit organizations that focus on sustainability in the encryption industry. To stay up to date, follow the QR Capital on Instagram and on Twitter.Gemini Content Launches Carbon Offset Program Appears First in BlockTrends – Blockchain | Investments | Economy.

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