Listed mining company Argo will launch a clean energy-powered Bitcoin mining pool

Listed mining company Argo will launch a clean energy-powered Bitcoin mining pool

30/3/2021

On March 29, according to foreign media reports, blockchain solutions company DMG Blockchain Solutions and Bitcoin mining company Argo Blockchain have recently announced that they will launch the world’s first clean energy Bitcoin mining pool-Terra Pool. Driven by the hydropower resources of the two companies.


Argo Blockchain PLC is a British mining company with three operating facilities in Canada for the mining of Bitcoin and Zcash (ZEC). The company recently acquired 320 acres of land in Texas and plans to use it to expand its mining operations. It also provides 200 megawatts of electricity, also from renewable energy.


Argo CEO Peter Wall stated that making Bitcoin greener is the main priority and urges other Bitcoin mining companies to follow suit: “Climate change is Argo’s top priority, and DMG is working with DMG to create the first green Bitcoin. Mining pools are an important step in protecting the planet for the present and future generations. We hope that other companies in the Bitcoin mining industry can follow in our footsteps."


Dan Reitzik, CEO of DMG Blockchain, stated that this joint venture mining pool is “the only Bitcoin mining pool that requires miners to use green/clean energy.” He added: “Miners use a variety of energy sources around the world, from nuclear energy to From hydropower to coal, many miners are already using renewable energy."


It is not clear when Terra Pool will be launched, but Bitcoin is currently receiving increasing criticism due to its huge carbon footprint. According to digital economists, the carbon footprint used to produce Bitcoin is comparable to the carbon footprint of London.


The two companies expressed the hope that Terra Pool will cooperate with like-minded Bitcoin miners to accelerate the transition from traditional energy to clean energy.

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