On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Ninepoint will allocate part of its management fees to even out the carbon footprint of Bitcoin in its exchange-traded fund product.
Ninepoint Partners LP, one of Canada’s Bitcoin (BTC) exchange-traded fund issuers, has announced plans to offset the carbon footprint of its BTC ETF product.
According to a release issued on Monday, Ninepoint has inked a partnership with carbon offsetting service provider CarbonX. As part of the partnership, Ninepoint will dedicate an undisclosed portion of its management fees to purchase carbon credits to neutralize the environmental impact of the Bitcoin mining process of the BTC held in its fund.
As previously reported by Cointelegraph, Ninepoint announced plans to convert its Bitcoin trust to an ETF back in March, with the fund’s prospectus filed with regulators the following month.
The partnership will also see the Crypto Carbon Ratings Institute providing scientific estimates on Bitcoin mining energy consumption. The purchased carbon credits will reportedly be channeled toward conservation efforts in the Amazon forest.
Commenting on the reasoning behind the move, Alex Tapscott, managing director of digital assets at Ninepoint, told Bloomberg:
“For some investors who are concerned about the carbon footprint of mining, they may be wary of investing in a Bitcoin ETF. What we’re doing is creating what we hope is a solution to that problem and giving them the choice that they want and, frankly, that they need.”
Indeed, the “ocean boiling narrative” continues to be associated with Bitcoin mining with detractors pointing to the high energy consumption of mining establishments around the world. Earlier in May, a bill was introduced to the New York State Senate seeking to ban BTC mining in the state for three years over energy concerns.
From China to Iran, miners are facing increasingly stricter oversight from regulators over electricity consumption and environmental impact concerns. On the flip side of the argument, Bitcoin proponents say miners are becoming buyers of last resort for renewable energy producers.
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