Announced on March 26, Argo, a global leader in cryptocurrency mining is overwhelmed to announce that it has signed a Memorandum of Understanding (‘MoU’) with DMG Blockchain Solutions(DMG), a blockchain and cryptocurrency technology company, to launch the first Bitcoin mining pool.
"Argo and @dmgblockchain aim for Terra Pool to serve as a strong incentive for crypto miners to produce bitcoin in a climate-conscious manner." Thanks for the coverage @BusinessInsider #ARB $ARBKF#BTChttps://t.co/bhCgMDktOM — Argo (@ArgoBlockchain) March 26, 2021
Peter Wall, Chief Executive of Argo Blockchain, said:
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. We are hopeful other companies within the Bitcoin mining industry follow in our footsteps to demonstrate broader climate consciousness.
Argo and DMG have signed a MoU, under the term of which both the firms will jointly launch Terra Pool, a Bitcoin mining pool backed by clean energy. The hashrate will be generated by hydroelectric power resources. The pool will consist of both Argo’s and DMG’s hashrate in the initial process of mining.
The joint initiative visions to mine Bitcoin in a responsible manner. With an aim to prevent harming the environment, the pool will exert a minimal impact in the process of mining, which is otherwise highly energy intensive. It aims to shift from conventional power to adopting a clean energy step. Terra Pool will allow the cryptocurrency miners to produce Bitcoin and other cryptocurrencies in a sustainable way. With a vision to live in a green, healthy and sustainable environment, the announcement further directs the launch of Terra Pool as ‘the first ever opportunity for the creation of ‘green bitcoin’.
Thank you for your coverage! @Cointelegraph #Bitcoin #CryptoNews $DMGI $DMGGF https://t.co/hJlP231FIr — DMG Blockchain Solutions (@dmgblockchain) March 26, 2021
Dan Reitzik, Chief Executive of DMG, said:
DMG’s increased innovative strength and continued focus on eco-friendly Bitcoin mining has the opportunity to drive transformations in how the Bitcoin mining community acts towards a climate-conscious future. DMG’s ongoing commitment to clean energy-based capital deployment is a key industry development. We believe this is an opportunity for continued growth as we develop a better understanding of climate-friendly operations while simultaneously integrating the newest and most innovative blockchain technologies.