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UK government trials renewable crypto funding

The global crypto industry has a similar carbon footprint to Egypt, according to research

Can a new scheme turn crypto mining green?
Can a new scheme turn crypto mining green? Photo: Michal Bednarek/Shutterstock

The government has handed funding to a startup in a new push to decarbonise cryptocurrencies, opening the door to similar projects getting grants in future.

Edinburgh-based Zumo said it had recently completed a project where it bought renewable energy certificates to make up for £1.5m in bitcoin purchases on its app, estimated to compensate for 850-megawatt hours of electricity usage.

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