The First ESG Report in the Digital Field Leads the Low-Carbon Era
Beijing, China--(Newsfile Corp. - August 3, 2021) - The Tokyo Olympic Games, which was postponed for one year, officially kicked off. It is reported that the Tokyo Olympic Organizing Committee regards the concept of "3R" of "Reduce", "Reuse" and "Recycle" as one of the leading concepts of this Olympic Games, and has adopted many "zero carbon" measures. For example, the bedding made of cardboard and the hydrogen-powered self-driving cars in the Olympic Village use hydrogen as part of the fuel for the Olympic torch. All venues are powered by renewable energy. The Olympic medals were cast with precious metals recovered from 6.2 million used mobile phones. Recyclable household plastic waste and marine plastic waste are also used at the award table.
Promoting sustainable development is one of the fundamental goals of the Olympic Movement. As the world's top events, the Olympic Games attach importance to carbon emissions, which shows that low-carbon development has become a trend. The world is undergoing a transformation of economic and social development mode, the core of which is to develop clean energy technology, improve energy efficiency, optimize energy structure, and establish low-carbon economic development mode and low-carbon social consumption mode.
In this era, the transformation of mining industry is obviously imminent. For example, at The B Word Conference in the encryption market some time ago, Tesla CEO Elon Musk and Twitter CEO Jack Dorsey had a debate on Bitcoin energy consumption. At present, the common problem faced by mining industry is how to measure its own carbon emissions scientifically and according to what standards. After obtaining the calculation results, where to start carbon reduction, and how to achieve energy conservation and emission reduction to improve energy utilization efficiency.
In this context, on July 20th, SAI technology ESG report (2021) was released. The report takes environmental protection, society and corporate governance as the main topics, discusses the current Bitcoin mining and energy use, and shows the important solutions of SAI technology in the use of renewable energy, heat recovery, water treatment, carbon offset and other energy conservation and emission reduction paths. As the first ESG report in the industry, the research achievements and innovative measures of SAI Technology are advanced and cutting-edge. The report not only has certain reference and enlightening significance for other companies and industries, but also plays a positive role in promoting the whole industry to explore carbon emissions and transform to low carbon.
Low carbon tide drives green mining; Corporate carbon footprint disclosure becomes a trend
The main climate indicators are deteriorating, and the level of carbon dioxide is at a record high. The past 10 years have been the warmest on record. If left unchecked, doomsday fires, floods, droughts and storms will become commonplace. Science suggests that from now until 2030, the annual output of fossil fuels should be reduced by 6%, otherwise the situation will be even worse. Therefore, on the occasion of the 5th anniversary of the signing of Paris Agreement, a global movement of carbon neutrality is emerging.
Based on the common mission of carbon neutrality, more and more people in mining and computing industries began to look for alternatives of fossil energy and the use of clean energy, and paid more attention to whether the computing process met the requirements of sustainable development.
Environmental problems are becoming increasingly prominent, and more and more European and American countries have begun to lay out mines. Discussions on Bitcoin carbon emissions have increased significantly. On July 21st, Cathie Wood, the "investment queen", and Jack Dorsey, CEO of Twitter, initiated The B Word Conference, which discussed the energy consumption of Bitcoin mining many times. Nic Carter of Castle Island Venture Capital pointed out that as a neutral global currency network, Bitcoin has legal ownership of some social resources. It consumes energy to ensure the security of a network with a daily transaction volume of 10-20 billion dollars and a market value of over 600 billion dollars, and to distribute Bitcoin in a fair and independent way.
Nic Carter gave some key data in his speech. Bitcoin mining uses 0.26% of global electricity and 0.11% of global energy. Among them, the proportion of renewable energy is 39%. According to different statistical channels, the use ratio of sustainable energy is 34% and 46% respectively. In comparison, the US power grid uses 40% of sustainable energy. The proportion of global electricity using sustainable energy is 36.7%. Bitcoin's energy use type is in the middle of the world. Bitcoin generates 50 MtCO2e per year, accounting for 0.1% of global CO2e emissions.
To view an enhanced version of Figure 1, please visit:
Li Risheng, founder of SAI Technology, pointed out in his latest ESG report that according to the latest research, about 5% of the global total power generation will be used for calculation in 2020. Officials predict that by 2030, 15% to 25% of global power generation will be used in the computing industry. Bitcoin mining is the frontier of computing industry. At present, the total mining load in the world is about 8 million kilowatts. In the future, with the increase of Bitcoin price, the growth of computing power will still maintain a rapid growth trend, so industrial transformation is the key.
At present, the energy consumption of Bitcoin mining is about equal to that of Venezuela or Austria, but only 1.7% of that of the United States. If we want to be more detailed, the energy consumption of Bitcoin is 12 times less than that of household appliances in the United States, and 15 times less than that of global electricity during transportation every year. From the perspective of industry classification, the carbon emission of gold is 3.4 times that of Bitcoin, and that of banking system is 4.7 times that of Bitcoin. Carbon emissions from the financial sector are even 27 times that of Bitcoin. Therefore, the energy consumption of Bitcoin is related to the recognition of its value by different people and the selection of different reference objects. In addition, if miners can ensure the sustainable supply of clean electricity, Bitcoin mining can completely realize green mining, while gold obviously cannot achieve this level.
To view an enhanced version of Figure 2, please visit:
Bitcoin energy consumption is highly flexible and location independent. SAI Technology's core products - "SAICAB Computing Energy Cabinet" and "SAIBOX Computing Energy Container" - provide a qualitative improvement to the traditional fixed operation shell plant in terms of portability, reuse rate and operational efficiency. The core products of SAI Technology - "SAICAB" and "SAIBOX" are a qualitative improvement to the traditional fixed operation of the shell plant in terms of mobility, reuse rate and operational efficiency.
Bitcoin mining is skyrocketing towards sustainable and renewable. In this process, the industry transformation is divided into top-down and bottom-up. Among them, the bottom-up cannot be separated from the practical initiatives and transformation of each enterprise in the industry. SAI Technologies has developed a detailed carbon footprint methodology based on the official UN Greenhouse Gas Protocol product standards and released the industry's first ESG report. The report discloses SAI Technology's carbon footprint emissions, measurement standards, and supporting solutions, and is advanced and forward-looking, which is also a guide for other parties in the industry.
SAI released the first ESG report, leading the industry to make green transformation
On July 20th, SAI Technology released the 2021 ESG Report. The report made in-depth discussions on renewable energy, heat recovery, water treatment and carbon offset. Through data and a number of real cases, the achievements of SAI technology in mining and computing industry are presented intuitively, including improving energy efficiency, reducing carbon emissions and gradually achieving the future goal of carbon neutrality.
According to the latest data released by the United Nations, the energy supply sector (electricity, heat and other energy sources) is the largest source of global greenhouse gas emissions, accounting for about 35% of the total emissions. Households consume 29% of the global energy and produce 21% of the total carbon dioxide emissions. Most of the household energy is used for heating and cooling.
Taking heat supply as an example, most of the heat is generated by burning natural gas, petroleum, methane and other fuels. When these fossil fuels are consumed, a large amount of greenhouse gases will inevitably be emitted. Electric heat pump may be the best solution to reduce the use of fossil fuels in the current heating industry. By using compressors and refrigerants, heat is extracted from the outside air and released indoors to achieve the heating effect. However, it will inevitably produce a large amount of carbon emissions. Further revolutionary measures are needed to achieve the goal of carbon neutrality.
In view of this phenomenon, SAI technology's "energy-electricity-heat" mode can not only simplify the complexity of traditional heating system, but also reduce the construction cost, energy consumption and operation cost. Power obtained from clean energy sources such as water power, wind power and nuclear power provides power for chip computing. The heat generated by the chip in the calculation process is treated by the liquid cooling heat sink, and the hot/cold water generated can be used for daily and production needs.
Water energy is regarded as an inexhaustible, renewable and clean energy. Due to the demand of consumers, about 37.5% of power generation is wasted in the wet season every year. As a by-product of oil exploitation, if natural gas is not included in the planning scheme of the oil project, the natural gas produced by the project may be re-injected underground, burned and discharged into the atmosphere.
In view of the "redundant" energy in the production process, the solution proposed by SAI technology is to store the converted electric energy and apply it to the on-site power supply in the computing industry, and then use technical means to recover the waste heat generated from the calculation and reuse it in the central heating of houses, farms and public facilities. It is reported that compared with the traditional "burning" and "liquefying" solutions, SAI technology's solutions can not only make full use of surplus energy to produce Bitcoin, but also fix energy value in another form, increase the input-output ratio of energy, and reduce 43,630 tons of carbon dioxide equivalent emissions every year.
The above scheme is not only theoretical, but SAI technology has been put into practice. It has successfully deployed a trial operation center in northern Asia, and SAI Saire Technology has helped customers to effectively reduce the supporting investment in power, and at the same time, reduce the computing power and heat cost by about 35%. The average heat recovery rate of the whole process is over 90%, which realizes the recycling of renewable energy and forms a carbon neutralization closed loop.
SAI technology has signed long-term renewable energy supply agreements with some regional renewable energy power stations. These power stations agreed to provide 100% renewable energy supply for the data center and mining center of SAI Technology. Furthermore, SAI technology data center is also one of the most water-saving centers in the world. SAI technology invests in the recycling system, and will reuse as much water as possible before discharging it into the wastewater treatment plant. In addition to purchasing renewable energy, SAI also cooperates with regional heating companies to develop heat recovery infrastructure, recover excess heat from SAI data center and mining center, and use the recovered heat for community and production needs.
According to the carbon offset strategy proposed by CarbonTrust, when the emissions of a product, activity or the whole organization are offset, carbon neutrality is realized, which can be achieved by purchasing the same amount of emission offset or by combining emission reduction and offset. If some carbon emissions cannot be eliminated by using renewable energy, SAI Technology will purchase the required carbon credits to indirectly offset SAI's carbon emissions. However, the technological progress and innovation strength of SAI Technology are obvious to all, and a plan has been made to realize the transition from carbon offset buyer to seller as soon as possible in the future.
SAI Technology is the first digital asset company in the world to join the United Nations Framework Convention on Climate Change (UNFCCC). It is also the first company in the industry to sign a commitment with the United Nations. It can reduce costs and achieve carbon neutrality by providing clean computing power. Recently, SAI Technology has officially joined the Working Group on Climate-related Financial Information Disclosure (TCFD) and has become a supporter.
In order to guide the industry reform and promote the idea of carbon neutrality, SAI Technology has also established a non-profit member association named "OCEC (Clean Computing Power Cooperation Organization)" to help any enterprises, organizations and individuals who wish or are participating in mining and energy industries, including establishing contact with clean energy suppliers and providing technical guidance for the transformation of traditional thermal power generation to reduce carbon emissions. As the initiator, SAI Technology will help OCEC members establish contact with third-party carbon credit purchasing agents and organizations to help them neutralize carbon dioxide emissions, thus accelerating the realization of the industry's carbon neutrality goal.
SAI Technology aims to drive other enterprises and individuals to contribute to society through the power of its own enterprise, to produce a beneficial social impact, and to promote the progress of the whole industry. In order to lead the industry, SAI Technology strictly abides by the requirements of laws and regulations and continuously improves its corporate governance structure to ensure efficient and standardized cooperation operation processes. At the same time, SAI Technologies places business ethics and integrity as the core of its corporate values. All employees receive online code of conduct and anti-bribery and anti-corruption training when they join SAI Technologies, and employees ensure their own compliance at an ethical level.
The dual carbon target is the theme of the current era and a topic that must be tackled. Under the general trend of green economy, the energy consumption of the mining and computing industry has gradually drawn widespread attention. Although the energy consumption of Bitcoin is not particularly high compared to some traditional industries, if left unchecked, the energy consumption is bound to grow exponentially in the future. At this stage, it appears that the barbaric growth of the mining industry is a thing of the past. The efficient operation of clean energy and the exploration and practice of green energy-saving technologies have become the inevitable trend for the transformation and sustainable development of the mining industry.
As a leader in clean energy mining, the 2021 ESG report and carbon footprint report released by SAI Technology, and even the OCEC organization established, all show its determination to realize energy reuse in the digital field and promote the industry's carbon neutral promotion, as well as the purpose of making effective assessment, review and further adjustment of the industry's energy consumption structure in a timely manner. People have reasons to believe that this industry will become more and more standardized and green in the future, attracting more enterprises and individuals to join it while truly embarking on the road to green compliance in the digital economy.
Report Source: https://sai.tech/?p=3989
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91914