Winklevosses Buy Offsets to Cut Their Bitcoin Carbon Footprint

June 24, 2021, 11:55 AM

Gemini Trust, the cryptocurrency exchange run by Cameron and Tyler Winklevoss, purchased about $4 million in credits to help offset the carbon emissions footprint of the Bitcoin it holds in custody.

The firm made a donation in that amount to Climate Vault. The nonprofit purchased the permits, which will prevent more than 341,000 metric tons of carbon from entering the atmosphere. Gemini plans to continue to offset its carbon footprint until only renewable energy is used in securing the Bitcoin network, Chief Executive Officer Tyler Winklevoss said in an interview.

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