Publicly-traded crypto mining entity Argo Blockchain will reportedly roll out a Bitcoin (BTC) mining pool – operated exclusively by green energy.
Specifically, Argo has reportedly teamed up with a colleague entity – eco-friendly mining company DMG Blockchain to establish Terra Pool, functioning as a Bitcoin mining pool made up of a hash rate run by hydroelectric power sources from both companies.
Chief Executive of Argo, Peter Wall, reportedly disclosed that adding more green to Bitcoin was the primary target, and urged fellow crypto companies to join its footsteps.
“Addressing climate change is a priority for Argo and partnering with DMG to create the first ‘green’ Bitcoin mining pool is an important step towards protecting our planet now and for generations to come. We are hopeful other companies within the Bitcoin mining industry follow in our footsteps to demonstrate broader climate consciousness.”
Bitcoin’s energy usage reportedly climbed up to equal the annual consumption of Chile in February – a fact that was quickly mentioned by critics and skeptics. Nonetheless, not many people would shoot the similar criticism towards techs such as the internet, which already exceeded Bitcoin regarding energy usage.
“[DMG’s] focus on eco-friendly Bitcoin mining has the opportunity to drive transformations in how the Bitcoin mining community acts towards a climate-conscious future. DMG’s ongoing commitment to clean energy-based capital deployment is a key industry development,” Chief executive of DMG Dan Reitzik additionally remarked.
Argo Blockchain PLC reportedly operates as a UK-headquartered mining company, having already set up facilities across Canada dedicated to Bitcoin mining, as well as the privacy coin, Zcash (ZEC).
The firm has reportedly finalized the acquisition of a 320-acre plot of land in Texas – where it will serve the firm’s plan to widen its mining scope.