Argo Blockchain, together with DMG Blockchain, will launch the first sustainable Bitcoin mining pool – Terra Pool. It will only use energy generated by hydroelectric power plants.
Argo Blockchain is registered in the UK, while the mining company has several datacenters in Canada for mining bitcoin and the ZEC confidential coin. Argo Blockchain recently acquired 320 acres of land in Texas to begin construction of a 200 megawatt datacenter. However, Argo Blockchain does not intend to stop there.
The company tweeted that it has signed a MOU with Canadian DMG Blockchain to create the Terra Pool. It will combine Argo and DMG hash rates, generated from energy generated by hydroelectric power plants. Argo CEO Peter Wall said the initiative is aimed at making bitcoin greener and urged other mining companies to follow Argo’s lead.
Dan Reitzik, CEO of DMG, added that green bitcoin mining will help develop the mining industry as a whole. Many miners will start to look at cryptocurrency mining in a different way, thinking about its consequences for the environment.
“Tackling climate change has become one of Argo’s top priorities. Partnering with DMG to create the first green Bitcoin mining pool will be an important step towards protecting the planet, both for us and for future generations, ”Wall said.
Bitcoin is criticized by many for the fact that it requires a large amount of electricity to mine, which leads to an increase in carbon emissions. However, according to a 2019 Braiins study, video games consume much more electricity than Bitcoin mining.
