Listed cryptocurrency mining company Argo Blockchain will launch a bitcoin (BTC) mining pool powered solely by clean energy, the company announced on April 26. Walk on.
Argo has partnered with DMG Blockchain to create Terra Pool, a bitcoin mining pool composed of a hash derived from the company’s two hydroelectric power sources, which the company says is the first of its kind.
Argo Blockchain PLC is a UK-based mining company with three production sites in Canada. It specializes in using bitcoin and the currency Zcash (ZEC) to protect sensitive information. Recently, the company acquired 320 acres of land in Texas, where it plans to expand its mining operation by producing another 200 megawatts of electricity, also from renewable energy sources.
Peter Wall, CEO of Argo, said making bitcoin more environmentally friendly is a top priority and urged other bitcoin mining companies to follow suit:
Combating climate change is a priority for Argo, and partnering with DMG to create the first green bitcoin mining pool is an important step in protecting our planet now and for future generations. We hope other companies in the bitcoin mining industry will follow our example and be more climate conscious.
Bitcoin energy consumption has reached annual levels in Chile over the past month, critics and skeptics point out. Yet few think to compare the criticism to that of a technology like the Internet, which already consumes more energy than bitcoin and which, like cryptocurrencies, has yet to become global.
DMG’s focus on green bitcoin mining has the potential to bring about a shift in the way the bitcoin mining community operates towards a climate-conscious future. DMG’s continued commitment to clean energy is a key priority for the industry, said Dan Reitzik, CEO of DMG.
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