Two publicly traded crypto mining companies, the UK-based Argo Blockchain and the Canadian DMG Blockchain, have announced they’ve joined the Crypto Climate Act (CCA). The CCA is an organization that aims to bring awareness to the need of lowering carbon emissions within the crypto industry.
The two companies confirmed yesterday that they had begun a collaboration with the CCA in order to create a new working group that would promote the objectives of the accord and increase transparency regarding the energy sourcing of crypto mining operations.
The CCA represents a private sector-led initiative that plans to lower the total emission in crypto mining which now some major investors are worried about – the most recent example being Elon Musk. The organization wants to help the industry to make a transition to net-zero greenhouse gas emissions by 2040.
“The Crypto Climate Accord helps lay the groundwork for real, tangible action to address Bitcoin mining’s impact on the environment and we are both eager and determined to ensure that Supporters and Signatories remain committed to the group’s goals,” declared the CEO of Argo Blockchain, Peter Wall.
Both Argo and DMG claim that crypto mining, on a global scale, accounts for around 0.5% of the global power usage, although it is worth noting that they haven’t presented any sources for these claims.
Source: CoinDesk.com