Argo launches the first clean energy mining pool

RNS Number : 5673T

Argo Blockchain PLC

26 March 2021

 

26 March 2021 

Argo Blockchain PLC

("Argo" or the "Company")

Argo partners with DMG Blockchain Solutions to launch 

the first clean energy Bitcoin mining pool

Argo, a global leader in cryptocurrency mining (LSE: ARB), is pleased to announce it has signed a M emorandum of Understanding ('MoU') with DMG Blockchain Solutions ('DMG'), a blockchain and cryptocurrency technology company, to launch the first Bitcoin mining pool powered exclusively by clean energy.

Under the terms of the MoU, Argo and DMG will jointly launch Terra Pool, a Bitcoin mining pool powered by clean energy. This pool will initially consist of both Argo's and DMG's hashrate which is mostly generated by hydroelectric resources.

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.

Peter Wall, Chief Executive of Argo Blockchain, said: "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. We are hopeful other companies within the Bitcoin mining industry follow in our footsteps to demonstrate broader climate consciousness."

Dan Reitzik, Chief Executive of DMG, said: "DMG's increased innovative strength and continued focus on eco-friendly Bitcoin mining has the opportunity to drive transformations in how the Bitcoin mining community acts towards a climate-conscious future. DMG's ongoing commitment to clean energy-based capital deployment is a key industry development. We believe this is an opportunity for continued growth as we develop a better understanding of climate-friendly operations while simultaneously integrating the newest and most innovative blockchain technologies."

For further information please contact:

Argo Blockchain
Peter Wall Chief Executive Ian MacLeod Executive Chairman	via Tancredi [phone]
finnCap Ltd
Corporate Finance Jonny Franklin-Adams Tim Harper  Corporate Broking Sunila de Silva	[phone]
OTC Markets
Jonathan Dickson [e-mail]	[phone] [phone]
Tancredi Intelligent Communication UK & Europe Media Relations
Salamander Davoudi [e-mail] Emma Valgimigli [e-mail]	[phone] [phone]

About Argo Blockchain Plc

Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. The Company is headquartered in London, UK and its shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB and on the OTCQX Best Market in the United States under the ticker: ARBKF.

For more information on Argo Blockchain visit:  www.argoblockchain.com  

About DMG Blockchain Solutions Inc.

DMG is an environmentally friendly vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG's sustainable businesses are segmented into three main divisions: data centre operations, data analytics and forensics and developing enterprise blockchains. DMG's non-polluting data centre operations focus on earning eco-friendly revenues from block rewards and transaction fees by mining primarily bitcoin as well as providing hosting services for industrial mining clients entirely powered by renewable energy. DMG's data analytics and forensic services provide technical expertise software products such as Blockseer Pool, Mine Manager and Walletscore, as well as working with auditors, law firms, and law enforcement organizations. DMG's permissioned blockchain technology is focused on developing enterprise software for the supply chain management of controlled products. DMG's strategy is to become the domain experts across the business verticals it focuses on. DMG's environmentally committed management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry and a strong ecological consciousness.

For more information on DMG Blockchain Solutions visit:  www.dmgblockchain.com  

 

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