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Spotted: Global blockchain giant Bitfury plans to go carbon neutral in Kazakhstan by planting at least 20 hectares of trees. The agreement is part of an effort by Kazakhstan to reduce greenhouse gas emissions by 15 per cent.
Kazakhstan has a reported 29 million hectares of forests in the country, but a lot of it is unprotected, meaning it is vulnerable to logging and other threats. The project, which also involves the United Nations Development Programme (UNDP), will increase the number of forests in Kazakhstan, as well as the process of forest husbandry.
Bitfury and the Kazakh government will create forestland in the Pavlodar region. The goal is to conserve existing forests that are not currently protected and to create new forests, and the first step will be to create maps of unowned forests and purchase firefighting equipment.
Bitfury will be powered by coal-fired electricity, and the emissions consumed by the trees should compensate 100 to 110 per cent of the carbon footprint from electricity suppliers.