‘First’ Carbon-Neutral Bitcoin Asset on Celo Blockchain Launched

Share Article
In Brief
  • Wrapped's ECO BTC (eBTC) reportedly becomes the first carbon neutral bitcoin asset.

  • eBTC combines BTC with MCO2 to form a new eco-friendly asset.

  • Concerns over the growing use of coal to power bitcoin mining has let many to seek out greener options in crypto.

  • promo

    KuCoin Releases KCS whitepaper – a Path for Geek to Mass Adoption Read now!

The Trust Project is an international consortium of news organizations building standards of transparency.

Wrapped has announced Eco BTC (eBTC), reportedly the first “green” bitcoin-based asset, is available. 

Thursday marked an important day in the crypto world for eco-conscious investors. Wrapped announced the launch of eBTC, which is being dubbed as the first carbon-neutral, or “green,” bitcoin (BTC)-backed asset. Now, investors, who are concerned about the effect of crypto on the environment, can get exposure to bitcoin while not compromising their beliefs. Investors can transact using an asset-backed 1:1 with BTC.

Additional advantages for environmentalists looking to invest are the ability to track data necessary for sustainability programs and use BTC in trading and decentralized finance (DeFi) apps, with a mind on the environment. eBTC will be available on the Celo blockchain via Ubeswap software. 

The new green asset combines bitcoin with MOSS Earth Carbon Credits (MCO2) in a new single digital asset. MOSS Earth is one of the industry’s biggest environmental platforms that is hoping to combat climate change by reducing the carbon footprint of digital currencies.

MOSS carbon credits are coded into blockchain and are fully tokenized. The tokenized carbon credits help to grow global environmental conservation efforts.

Persistent concerns over crypto’s carbon footprint

As the price of bitcoin rises, after the most recent crash, so with it rises increasing concerns over the energy used by cryptocurrencies in general. For years, experts in the industry have raised a few eyebrows at the truly massive amount of energy required to mine new coins into circulation. 

Bitcoin alone has a carbon footprint that compares to entire countries such as New Zealand. With each producing around 36.95 megatons of CO2 annually. In fact, if bitcoin itself was a country, it would rank thirty-third globally, consuming nearly 77.78  terawatt-hours (TWh). In other terms, bitcoin mining uses enough energy to run half of Australia. Some researchers, like those from Cambridge, believe the number could be closer to 110.55 TWh.


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Share Article

Matthew De Saro is a journalist and media personality specializing in sports, gambling, and statistics. Before joining BeInCrypto, his work was featured on Fansided, Forbes, and OutKick. With a background in statistical analysis and a love of writing, he takes an outside-the-box approach to reporting news.

Follow Author

KuCoin Releases KCS whitepaper – a Path for Geek to Mass Adoption      

Read now

KuCoin Releases KCS whitepaper – a Path for Geek to Mass Adoption

Read now

Olympus, a P2E NFT Game Similar to Clash Royale, Is Making Headlines

Read Now