PayPal and EnergyWeb propose incentive program to encourage Bitcoin miners to use clean energy

PayPal is offering incentives to bitcoin miners who take steps to reduce the environmental impact of their operations. The PayPal blockchain research group has partnered with nonprofit EnergyWeb to develop a clean energy verification platform to monitor and reward less energy-intensive bitcoin mining operations, PayPal said in a blog post on Monday. The solution was developed at a time when bitcoin production is putting enormous pressure on local power grids and taxpayers in the United States, according to industry sources. PayPal's proposed solution will distribute bitcoin to "green" bitcoin miners, individuals who use low-carbon energy in their mining operations. (The Block)