The company said on March 26 that publicly listed crypto mining company Argo Blockchain will launch a Bitcoin (BTC) mining operation that will only run on clean energy.
Argo teamed up with green miner DMG Blockchain to create Terra Pool, a Bitcoin mining pool consisting of hash sourced from both the company’s hydroelectric power sources, which the company claims is a first of its kind.
Argo Blockchain PLC is a UK-based mining company with three operating projects in Canada that were created to hack Bitcoin and the privacy currency Zcash (ZEC). The company recently acquired a 320-acre site in Texas that it plans to use to expand production with an additional 200 megawatts of electricity, also from renewables.
Peter Wall, CEO of Argo, said greening Bitcoin is a top priority and urged other bitcoin miners to do the same:
Dealing with climate change is Argo’s priority, and working with DMG to build the first green dam to mine bitcoin is an important step towards protecting our planet and future generations. We hope other companies in the bitcoin mining industry will follow in our footsteps to demonstrate a broader climate awareness.
Bitcoin energy consumption rose to the annual level in Chile last month, a fact that critics and skeptics immediately pointed out. However, few of those intending to criticize technology like the internet in the same way actually consume more energy than Bitcoin, and cryptocurrencies have yet to expand to include anything close to global use.
“[DMG] focus on sustainable bitcoin mining could change the way the bitcoin miner community behaves in a climate-sensitive future. DMG CEO Dan Ritsick said:“ DMG’s continued commitment to capital investments in clean energy is a fundamental pillar of industrial development. ”