Mogo rallies on launching world's first climate-positive bitcoin

Mogo (NASDAQ:MOGO) rallied 11.2% higher premarket after it launched 'green' bitcoin, an initiative which makes all bitcoin purchased on the Mogo platform climate positive. For every bitcoin purchased through its platform, Mogo will plant enough trees to completely offset the CO2 emissions produced by mining that bitcoin —and then some; it will plant trees to offset 500K lbs of CO2 for each bitcoin on its platform which will offset 79K lbs of CO2 more than is produced by mining each bitcoin. The global market for cryptocurrencies recently grew to a record high of $2.7T+, and bitcoin alone accounted for ~50% of that value; till date in October, bitcoin's average 24-hour trading volume has exceeded $37B. While some miners are embracing green energy at the source, ~18.8M bitcoins have already been mined to date; for each bitcoin mined, an estimated 421K lbs of CO2 emissions are released into our atmosphere.