Cudo is not only producing innovative software that makes mining cryptocurrency easy and safe for everybody, but we’re committed to doing so with a clean environmental conscience.
We are the first company in the cryptocurrency mining space to commit to carbon neutrality internally and enable miners to become carbon neutral if they choose.
We believe that blockchain and cryptocurrency are technologies with an incredible future. That’s why it’s important to evaluate and understand the possible impact that this could have on the environment now.
While these technologies offer great possibilities, blockchain networks are supported via mining or Proof of Work (POW) technologies which can have a seriously negative effect on the environment. While other solutions are being tested – such as Proof of Stake (POS) – cryptocurrency mining is here to stay for the immediate future at least.
Our Company and our own hardware mining off-set all our carbon energy use by investing in carbon credits, which directly support projects generating active carbon reductions. These projects are only made possible by the funds from this practice.
We also enable our users to select to offset their carbon footprint if they choose.
To that end, we hope to inspire the rest of the industry, ensuring that the revolution of cryptocurrency, blockchain and mining does more good than harm.
We have chosen to support two specific programs through our purchase of carbon credits – the India Solar Power and India Wind Power projects.
The India Solar Power project actively generates electricity using solar energy. This energy is then exported to the regional grid system, displacing 95,145 MWh/year of energy which would otherwise be produced from fossil fuels.
The India Wind Power project is a true investment in sustainable, renewable energy.
Supporting a wind farm in the state of Maharashtra, India, this project generates a renewable energy source (wind) and sells the power to the state grid.
Both schemes will generate renewable energy through our carbon offsets.
Carbon emissions do not respect international borders; as the CO2 enters the atmosphere, it spreads out.
1 tonne of CO2 emission savings in India is the same as 1 tonne of CO2 savings on our home turf. In fact, the contributions can go even further; generating additional employment opportunities, reducing the demand/supply gap and demonstrating sustainable technology in the region.
We can see tangible results of our carbon-offsetting as the project develops and we are optimistic that the benefits will be felt for generations to come.