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TORONTO, ON / ACCESSWIRE / September 12, 2024 / Sparta Group (TSXV:SAY) (the "Corporation" the "Company", "Sparta Group", "Sparta Capital", "SAY.V" or "Sparta") has just confirmed that another bitcoin miner has joined the carbon credit program at its e-waste operation, ERS International, adding to the continuous growth of the initiative.
Joseph Cimorelli, Director of Global Business Development at ERS, remarked: 'Generating carbon credits through our e-waste recycling under the ERS Carbon Credit Program is a crucial aspect of the sustainability efforts championed by our bitcoin mining partners. While a confidentiality agreement prevents us from disclosing the name of our latest cryptocurrency client, we can share that they are a significant player in the bitcoin industry. We're thrilled to welcome them to our growing roster of carbon credit program participants.
The ERS carbon credit program started to take off after the Company landed one of its first bitcoin mining clients, Hut 8 Mining, in late 2022. Hut 8 is one of the world's oldest and largest digital currency miners. Since that time, other cryptocurrency miners have joined the carbon credit program at ERS.
While most research on environmental impacts linked to cryptocurrencies, such as Bitcoin, have focused on energy demand, Bitcoin mining cycles through a large amount of electronic equipment that contributes to the global e-waste problem. Sparta management have reported that the crypto miners that have joined the ERS carbon credit program are serious about reducing their carbon footprint, adopting several tactics to extend the life cycle of hardware and safeguard the environment; however, sometimes there is still the need to turn to carbon credits to lower overall emissions.
According to the Financial Post, Canada is the world's fourth-largest Bitcoin mining hub, right behind the United States, China and Kazakhstan. Currently, all the Bitcoin miners involved in the ERS carbon credit program are either Canadian or U.S based.
The AGU (Advancing Earth and Space Sciences) is an organization of professionals focused on advancing solution science that is ethical and respectful of communities. It estimates that there are about one million bitcoin miners operating around the world.
"Our continued innovation and focus on sustainability will help us meet evolving customer needs, especially as it relates to helping companies, including crypto currency miners, reduce energy consumption and preserve resources. Companies dealing in big data is burgeoning and we are uniquely positioned to help them," said Tony Peticca, President of Sparta
About Sparta Sparta Group (a.k.a. Sparta Capital Ltd.) is a technology-based company focused on integrating emerging technologies. It operates with a decentralized business model, with each active business functioning as a separate subsidiary. Sparta's business entities fall into three different divisions: Environment: ERS International, is a waste management operation with its state-of-the-art, proprietary e-waste processing technologies. ERS is dedicated to continuous innovation, as well as increased sustainability and security for both the company and its customers. It offers a unique carbon credit program and has attracted significant attention from companies that deal with big data and the need to reduce carbon footprint. ERS has operations in Canada, the Middle East and South America. Health: Sparta Health Corporation isa vertical harnessing the power of Artificial Intelligence (AI), Machine Learning (ML), and Augmented Reality (AR), to developtechnologies that enhance personalized patient care and improve treatment outcomes. Transportation: TruckSuite™, is a comprehensive suite of products and services designed to keep trucks operational and drivers competitive. TruckSuite management believes their offerings can play a pivotal role in enhancing the logistics and transportation industry.
Sparta is a publicly traded company listed on the TSX Venture Exchange Inc. under the symbol "SAY" (TSX.V: SAY). Additional information is available at www.spartagroup.ca or on SEDAR at www.sedar.com.
This above may contain "forward-looking information" within the meaning of applicable securities laws. When used in this address, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, readers are cautioned to not place undue reliance on forward-looking information because the Corporation can give no assurance that they will prove to be correct. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date of publication of this information and the Corporation undertakes no obligation to update such forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Furthermore, the Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Corporation. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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