Argo Blockchain, DMG to Launch Clean Energy Bitcoin Mining Pool

Argo said "Terra Pool" will allow for the creation of "green bitcoin."

AccessTimeIconMar 26, 2021 at 10:54 a.m. UTC
Updated Sep 14, 2021 at 12:32 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

U.K.-listed Argo Blockchain (LON: ARB) said it has signed a memorandum of understanding with blockchain and cryptocurrency technology firm DMG Blockchain Solutions to launch a bitcoin mining pool completely powered by clean energy.

  • Under terms of the agreement, the two firms will jointly launch “Terra Pool,” a bitcoin mining pool exclusively powered by clean energy.
  • Terra Pool will initially consist of both Argo's and DMG's hashrate, which is mostly generated by hydroelectric resources. It will provide a platform for cryptocurrency miners to produce bitcoin and other cryptocurrencies in a sustainable way, the firms said.
  • The agreement comes amid rising criticism for the energy used by the crypto mining industry and its potential impact on climate change.
  • "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,” said Peter Wall, CEO of Argo Blockchain.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.