Energy Web Token Jumps 25% After BlackRock Gives Decarbonization Project a Shoutout

The nonprofit that issues the coin received praise from BlackRock for trying to reduce bitcoin mining emissions.

AccessTimeIconAug 11, 2022 at 3:03 p.m. UTC
Updated May 11, 2023 at 6:46 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The energy web token (EWT) jumped 25% to a high of $3.18 Thursday after it was mentioned in a BlackRock press release.

The release detailed BackRock’s plans to create a spot bitcoin private trust for U.S. institutional investors before praising Energy Web’s potential to introduce less environmentally damaging bitcoin mining strategies. Energy Web is a nonprofit that builds operating systems for energy grids.

“BlackRock is encouraged that organizations such as RMI and Energy Web are developing programs to bring greater transparency to sustainable energy usage in bitcoin mining, and will follow progress around those initiatives,” the release read, referring to RMI, an energy sustainability advocacy group.

The press release follows last week’s announcement that BlackRock, the world’s largest asset manager, has established a partnership with crypto exchange Coinbase Global (COIN) to offer cryptocurrencies to BlackRock's institutional investors.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Elizabeth Napolitano

Elizabeth Napolitano is a news reporter at CoinDesk.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.