Blockchain and cryptocurrency company DMG Blockchain Solutions has merged with cryptocurrency company Argo Blockchain. The two companies have decided to launch a bitcoin mining pool that focuses on using clean energy sources.
- DMG Blockchain Solutions (TSX-V: DMGI) and Argo Blockchain Plc (LSE: ARB) recently signed a letter of intent to form Terra Pool. The new bitcoin mining pool focuses on clean energy sources and will combine DMG’s hashrate with Argo’s hydro.
- In recent months, bitcoin (BTC) mining and all proof of work (PoW) in general have been criticized for the high power consumption of these networks. Argo’s DMG and Terra Pool plan to support green mining of bitcoin with a focus on clean energy solutions.
- DMG’s increased innovation and focus on green bitcoin mining offers the opportunity to change the way the bitcoin mining community will operate in the future, given the climate, DMG CEO Dan Reitzik said in a statement.
- The two companies also said that a new clean bitcoin mining pool will work with other crypto players to accelerate the transition from traditional energy to clean energy.
- For the past decade, BTC miners have been using renewable and surplus energy sources, such as… B. Geothermal, wind, solar, natural gas and hydroelectric energy. In recent years, cogeneration concepts have been developed using installations that extract the excess heat released during operation.
- This month, bitcoin’s hashrate reached 185 exahashes per second (EH/s), and the complexity of the network is the highest in bitcoin’s history. At the time of publication, there are 17 known bitcoin mining pools directly chopping at the BTC chain.
- Peter Wall, CEO of Argo Blockchain, believes that adopting clean energy efficiency in the mining industry is a good idea for the planet. Fighting climate change is a priority for Argo, Wall said. We hope other companies in the bitcoin mining industry will follow our lead to be more climate conscious, Argo’s CEO added.
What do you think of DMG and Argo’s Terra Clean Energy Pool project? Let us know what you think in the comments below.
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Argo, Argo Blockchain, Bitcoin, Bitcoin (BTC), bitcoin mining pool, BTC, BTC mining, climate friendly, Dan Reitzik, DMG, DMG Blockchain Solutions, environmentally friendly, mining, mining pool, Peter Wall, renewable energy, renewable energy, Terra Basin
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