Transparency Is Coming to Bitcoin Mining as Institutions Eyeball ESG

The environmental impacts stemming from the big business of bitcoin mining are getting a dose of transparency that is welcome at the world's largest asset manager. Energy Web, which focuses on the process of decarbonizing the global economy, is set to release a sustainability score for miners next month.

BlackRock said in a statement earlier this month that it plans to bring transparency to the use of sustainable energy in bitcoin mining by the Energy Web and other programs. The fund group partnered with Coinbase to give institutional clients of its Aladdin platform access to bitcoin earlier this month, and a week later launched a private bitcoin trust.