Brazilian company will pay bonuses to Bitcoin miners who use renewable energy sources, such as hydro, solar, wind, biomass, geothermal, oceanic and hydrogen

Hathor Labs, the Brazilian startup responsible for the Hathor Networks blockchain, will reward anyone who mines bitcoin using clean energy. Called “Hathor Green”, the program gives monthly bonuses to miners who prove they are using renewable energy sources to mine bitcoin and the HTR network’s native token.

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Applications run until July 8th and are part of Hathor's launch of an initiative in the environmental, social and governance areas called Hathor Green. Individual or professional bitcoin miners can participate.

“Providing extra incentives to bitcoin miners who use clean energy is one of the best ways to encourage others to follow them,” said Guto Martino, Head of Marketing at Hathor Labs, in a statement.

The initiative is important given the high annual electricity consumption of the Bitcoin network. According to studies by the University of Cambridge, the activity consumes around 145 TWh, responsible for 0,65% of the total energy consumption in the world. It is estimated that more than 2/3 of bitcoin miners are located in China, 7% in the United States and 7% in Russia.

Hathor Network works inside the bitcoin network

Hathor's blockchain works with a hybrid consensus mechanism created by engineer Marcelo Brogliato, the startup's current technology director, during his master's degree. Thus, the network works within the bitcoin system, inserting tiny amounts of data from blocks. In this way, HTR and Hathor Network services have virtually no environmental impact, but participate in a model that does.

According to Hathor Labs spokesperson and marketing director Guto Martino, “providing extra incentives to bitcoin miners who use clean energy is one of the best ways to encourage others to follow them.” Finally, the director says: “although we are not generating any direct environmental impact, we participate in a system that actually does. That's where the idea for Hathor Green came from."

In this way, the company of Brazilian origin wants to encourage bitcoin mining without carbon footprints.

Hathor Green encourages clean mining

“Miners who use clean energy can apply for the program. For this, they send us all the documentation, there will be a due diligence process, but whoever can prove it will receive a bonus in HTR at the end of the month, based on the hash rate of our network”, said the spokesman.

Martino explained that HTR can be traded on some exchanges and is the currency used in the Hathor Network blockchain services, which even allows the creation of new tokens. According to data from CoinMarketCap, the bitcoin cryptocurrency was worth around $0,45 at press time.

mining bonus

In the next quarter, the company will announce a new phase of the program, with measures for those who use fossil energy and intend to offset emissions of CO2 of bitcoin mining activity.

Hathor Network uses a hybrid consensus mechanism created by engineer Marcelo Brogliato, CTO of the startup, during his PhD. In it, new transactions made on the network receive confirmations both directly from previous transfers (DAG) and from mined bitcoin blocks using the Proof-of-Work method.

The company highlights the following examples of renewable sources: hydro (energy from river water), solar (energy from the sun), wind (energy from wind), biomass (energy from organic matter), geothermal (energy from the interior of the Earth), oceanic (tidal and wave energy) and hydrogen (chemical energy of the hydrogen molecule).