Renewable energy credits represent ownership of the sustainability of electricity produced. These certificates represent 1 megawatt hour of power produced from renewable sources such as wind, hydro and solar. They are usually separate to any power purchase agreements and are usually traded over the counter .
This might actually raise the price of RECs, “which directly incentivizes investment in renewable energy technology,” Divine said.Switzerland-based Block Green is another project that is trying to incentivize sustainable mining through a decentralized lending protocol. On their platform, liquidity providers looking for bitcoin-native investments can buy future hashrate over a specified period of time, or computing power.
Similarly, Clean Incentive looks to “collect, validate and tokenize ESG [environmental, social, and governance] attributes” from a network of miners, said its founder and CEO Casey Martinez, a data scientist with experience in renewable energy. For every megawatt of energy used for the actual computing in a data center, LiquidStack's solution uses 0.02 MW for cooling, whereas other options use 0.1 MW to 0.7 MW, LiquidStack said.in March, a 150-year old firm in the heating and cooling space which brought in $16 billion in revenues in 2022.