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Argo and DMG to Create the First Bitcoin Mining Pool Powered by Clean Energy Sources

Recent announcements made by Argo Blockchain and DMG Blockchain Solutions reveal that the two firms have partnered to create the first-ever bitcoin mining pool that will be entirely powered by clean energy sources, namely Terra Pool.

In the first phase, the new mining pool’s hash rate will come from the two firms’ mining sources. According to s statement made by the UK-based cryptocurrency mining firm Argo Blockchain, the mining power used by the two firms  is “mostly generated by hydroelectric resources.”

Argo Blockchain CEO Peter Wall has recently said that “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.”

Regarding the new pool, Argo declared the following:

“Terra Pool represents the first ever opportunity for the creation of ‘green bitcoin’. The initiative aims to expedite the shift from conventional power to clean energy and reduce the impact of Bitcoin mining on the environment. The mining pool will provide a platform for cryptocurrency miners to produce Bitcoin and other cryptocurrencies in a sustainable way.”

In February, Argo acquired 320 acres of land in West Texas in order to open a new mining facility. The acquisition is part of the firm’s plans to increase its mining capacity, and Texas is known for having cheap electricity, the reason why several Bitcoin miners have opened facilities in the state or are interested in doing so. 

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