Simply put, each bitcoin purchase with Mogo, we’ll plant enough trees to absorb 500,000 lbs of CO2 (which is more than the 421,000 lbs of CO2 is created by mining a bitcoin), therefore offsetting more CO2 than the emissions created by mining that bitcoin. For more specific details, check out our Green Bitcoin blog or keep reading the FAQs below:
How does Mogo make the bitcoin purchased through their platform green?
The CO2 impact of a mined bitcoin is estimated to be 421,000 pounds. We are planting enough trees to offset 500,000 pounds of CO2 meaning that bitcoin purchased on the Mogo platform is actually climate positive. We’re taking more CO2 out of the air than what was produced during the mining of bitcoin..
Does Mogo only plant the trees once a full bitcoin is purchased?
One of the benefits of bitcoin and buying it through Mogo is that you can buy as little as $1 dollar of bitcoin. At the end of each month we will calculate the total trees to be planted based on the total net purchases of bitcoin on the Mogo platform
Where are trees being planted/who are you partnered with?
To help make our bitcoin green, we’ve partnered with our trusted pals at veritree! They’re already helping us plant a tree with every purchase made with the MogoCard. Veritree partners with reforestation groups to plant trees for Mogo in Indonesia, Madagascar and Kenya. Mogo has also started initiatives to plant trees in Canada as well.
For more details about all the awesome stuff we're doing at Mogo, check out our blog site