DMG Blockchain Solutions Inc., a vertically integrated blockchain and cryptocurrency technology company, and global cryptocurrency mining company Argo Blockchain Plc have entered into a memorandum of understanding to establish Terra Pool, the world’s first Bitcoin mining pool powered by clean energy.
Terra Pool will work to better manage the impact of Bitcoin mining on the climate.
Initially, the pool will consist of both DMG’s and Argo’s hashrate, which uses energy generated by hydroelectric resources.
Terra Pool will provide a strong incentive and accessible platform for cryptocurrency miners to produce Bitcoin in a sustainable and climate-conscious way, with the goal of significantly reducing greenhouse gas emissions over the next decade, according to a press release. In the near-term, Terra Pool will work with like-minded Bitcoin miners to expedite the shift from conventional power to clean energy.