One River Digital customers choose CO2-neutral Bitcoin mining

One River Digital, an asset management company focused on digital wealth management, has stated that a large majority of its clients have chosen their carbon neutral stock class.

Bitcoin’s skeptics have long criticized its environmental damage, claiming that mining uses a lot of electricity and this leads to greater consumption of coal and other fossil fuels. Mining is mainly done in third world countries because of the cheap electricity available, but this is harmful to the environment as electricity in these countries is mainly generated by fossil fuels. The criticism grew louder when Elon Musk announced that he was no longer interested in investing in Bitcoin (BTC) because it was not environmentally friendly. This has led to a number of initiatives to make Bitcoin as climate neutral as possible.

“Digital assets are an emerging asset class with unique risks and opportunities,” said Eric Peters, Chief Investment Officer and Founder of One River Asset Management. “We believe that digital assets hold incredible potential for good. However, in order to realize this potential, it is important to proactively address the environmental impact. Today’s announcement, made possible by our customers, is an important step in the right direction. Your actions will be a measure of the future behavior of institutional investors. “

The company has created an option that allows investors to invest in digital strategies while offsetting the resulting carbon footprint. They called this index BTC.X and the company is buying tokenized carbon credits validated on the blockchain to offset carbon emissions.

Sebastian Bea, President of One River Digital, has been delighted with the quick response from customers seeking carbon neutral Bitcoin investments. “We believe this reflects a wider shift in investor preferences as transparency increases across all institutional portfolios,” he said. “Every new investment is increasingly attributed to its carbon footprint. We are proud to be the first institutional digital asset manager to offer our clients this opportunity. We look forward to expanding the opportunities as the digital asset ecosystem seeks a 100% carbon neutral future. “

The focus on the environmental impact of BTC mining is good for the industry in the long term, but it remains to be seen whether all of these measures taken by the various companies to offset this criticism are really sound and would or would change the carbon footprint whether it’s just sales tactics to distract criticism for now. The fact is, BTC mining has been going on for a long time and it has only come into focus late, especially when most of the bitcoins are already being mined. With China and other governments also cracking down on BTC mining, it is expected that it will produce good eco-friendly results in the long run.

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