Bitfury will develop a project to compensate for the emission of carbon dioxide
Bitfury uses energy suppliers that run on carbon and emit high amounts of carbon dioxide, so the company has decided to develop a project to reduce the amount of greenhouse gases that are expelled for its activities.
The Bitfury Project
Bitfury, the Blockchain development firm, intends to develop a project to conserve and increase forest lands in Kazakhstan. The project will be carried out in partnership with the United Nations Development Program (UNDP) and its main objective is to reduce greenhouse gas emissions during the next decade by 15%. The project seeks to fulfill the commitments that Kazakhstan accepted in the Paris Agreement signed in 2016.
Bitfury, in association with the UNDP, will sign an agreement with the Ministry of Ecology, Geology and Natural Resources of Kazakhstan that will aim at the creation of a forest in Pavlodar. Bitfury seeks to compensate for carbon dioxide emissions generated by local electricity providers that feed its operations. The size of the initial forest will be 20 hectares and will increase in the future.
The UNDP resident representative in Kazakhstan, Yakup Beris, explained that the project means "the first carbon reduction initiative for Kazakhstan [...] we hope will accelerate the country's efforts to reduce carbon dioxide in partnership with the private sector . These practical solutions will require institutionalization and expansion.”