Argo and DMG joined organization working to lower Bitcoin miners’ carbon emissions
Crypto mining firms Argo Blockchain and DMG Blockchain have joined the Crypto Climate Accord (CCA), an organization working to promote a lowering of carbon emissions within their industry.
Both firms announced on Friday they are now working with the CCA to develop a new working group to promote the accord’s objectives, while also working to increase transparency around energy sourcing by crypto mining operations.
Crypto Climate Accord (CCA) is a private sector-led organization that aims to reduce overall emissions in cryptocurrency mining, which has become a cause for concern for some high-profile investors such as Elon Musk. The organization is expecting to encourage the industry to transition to net-zero greenhouse gas emissions by the year 2040.
Argo and DMG noted that crypto mining worldwide accounts for up to an estimated 0.5% of global power usage.
Peter Wall, CEO of Argo Blockchain said, “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.”
The two firms are already working on environmental initiatives. In March, both the firm has signed an agreement to launch a bitcoin mining pool that would be completely powered by clean energy.
On Thursday, Argo Blockchain announced the purchase of two data centers in Canada that are largely powered by hydroelectricity.