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We want to make Bitcoin mining more climate-friendly - Argo Blockchain CEO


invezz.com 10 June 2021 12:20, UTC
Reading time: ~2 m

Chief Executive Officer of Argo Blockchain Peter Wall was speaking on CNBC recently, about the efforts taken so far to make Bitcoin and cryptocurrencies more climate-friendly

He said the firm has answered several questions from Chinese crypto miners after the Chinese government announced a ban on Bitcoin and crypto mining.

Wall reiterated that the max exodus of Bitcoin miners from China should be seen as a good thing for both the environment and Bitcoin (BTC/USD).

It means there is will be less use of fossil fuels to mine Bitcoin since the world has started stressing about a renewable energy source for such purpose.

Areas like North America has enough renewable energy

The Argo chief also stated that miners will be more welcomed in North America where there is substantial availability of renewable energy for mining. He also added that there are lots of different agencies that are seriously working to make Bitcoin and crypto mining use more renewable energy than they are using now.

Argon has also joined the Bitcoin mining council led by Microstrategy’s co-founder Michael Saylor and Tesla’s chief executive officer Elon Musk. The company has also signed the crypto climate accord where the major aim is to decarbonize the global crypto industry.

Another goal the council is working on is to ensure net-zero greenhouse gas emissions by 2040.

The crypto community and others have voiced their worries about the increased use of fossil fuels to mine crypto assets. What people like Elon Musk and Peter Wall are doing is to make sure that the future of crypto is renewable.

Argo Blockchain is a publicly-traded blockchain technology firm that is listed on the London Stock Exchange.

The company operates a global data center, providing consumer-friendly and low-cost services for the mining of top crypto assets.


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