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Argo Blockchain, DMG to Launch Clean Energy Bitcoin Mining Pool
Argo said "Terra Pool" will allow for the creation of "green bitcoin."
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.
STORY CONTINUES BELOW
- 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.
Read more: Argo Blockchain Takes 25% Stake in $40M Crypto VC Fund
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
