Argo, DMG unveil plans for clean energy-backed bitcoin mining pool

A pair of publicly traded bitcoin mining corporations introduced plans final week to create what they name the first-ever mining pool powered solely by clear vitality sources.

The partnership between the UK-based cryptocurrency mining agency Argo Blockchain and Canada-based DMG Blockchain Options will outcome within the launch Terra Pool.

Terra Pool’s hash price will initially come from Argo’s and DMG’s mining sources. Argo stated in an announcement that the 2 corporations’ mining energy is “principally generated by hydroelectric sources.”

“Terra Pool represents the primary ever alternative for the creation of ‘inexperienced bitcoin’. The initiative goals to expedite the shift from standard energy to scrub vitality and scale back the impression of Bitcoin mining on the setting. The mining pool will present a platform for cryptocurrency miners to provide Bitcoin and different cryptocurrencies in a sustainable approach,” the agency stated in an announcement.

“Addressing local weather change is a precedence for Argo and partnering with DMG to create the primary ‘inexperienced’ Bitcoin mining pool is a crucial step in direction of defending our planet now and for generations to return,” Argo Blockchain CEO Peter Wall was quoted as saying.

The information comes greater than a month after Argo bought 320 acres of land in West Texas to open a 200-megawatt mining facility and practically three months after the agency sought to extend its mining capability by 75%.