- Argo Blockchain in collaboration with DMG Blockchain Solution planning to introduce Terra Pool
- It is expected that the Terra pool will be produce Bitcoins in a climate-concious and sustainable way
- Following several vcritism around the world regarding the power and resource usage of the mining operations, the firms had planned to roll-out such pool
Argo Blockchain, a Bitcoin mining firm listed on the London Stock Exchange (LSX), is about to launch Terra Pool. According to the firm, Terra Pool will enable the creation of green Bitcoins, as it will be a clean energy mining pool. According to the official announcement by LSX, the mining firm had signed a memorandum of understanding with DMG Blockchain Solution, a blockchain and crypto technology firm. The memorandum of understanding is signed to launch the mining pool powered by clean energy.
Argo Blockchain will launch Terra Pool jointly with DMG
Accoridng to the memorandum of understanding, Argo Blockchain will be launching the Green Bitcoin miing pool alongwith DMG Blockchain Solution. Moreover, the pool is expected to contain both Argo’s and DMG’s hashrate. Indeed, that hashrate is mostly generated by hydroelectric resources. Furthermore, the pool will offer the BTC miners, a platform to produce cryptocurrency in a sustainable method.
Why did the firms plan to release the Terra Pool?
In recent days, many in the world are concerned regarding the power usage in Bitcoin mining operations. Bigger profiles like Bill Gates, the co-founder of Microsoft was also found concerning regarding the issue. Many in the world criticized the mining operations following the use of resources and impacts on climate change. Following the criticisms, the agreement between Argo Blockchain and DMG Blockchain Solution came.
Peter Wall, the chief executive officer of Argo Blockchain commented that observing climate chage is a priority for the firm. And collaborating with DMG Blockchain Solution is a very essential step to build the first green Bitcoin mining pool. Moreover, he also mentioned that it is important to protect our planet now and for upcoming generations. However, the firm’s commitment to clean energy-based capital deployment is a vital factor in the development of the industry.
What does the Terra Pool will offer?
It is expected that the Terra Pool will offer both a strong incentive and accessible platform for Bitcoin miners. This will help produce in a sustainable and climate-concious way with the aim of essentially reducing greenhouse gas emissions, over the next decade. However, currently for the short term it seems like the pool will work with Bitcoin miners to expedite the shift from the traditional power to clean energy.