After Ilan Mask attracted the attention of the industry earlier this year, cryptocurrency miners are still paying attention to environmental sustainability.
Cryptocurrency mining company Argo Blockchain announced on Tuesday that its climate strategy has reached an important stage. This is a clear signal that environmental sustainability is one of the company’s key goals.
The company claims that its cryptocurrency business is “green” and involves emissions in paragraphs 1, 2, and 3. According to the Global Carbon Trust, which deals with environmental protection, emissions in Zone 1 are direct releases of property.
Or resources controlled by the company. Group 2 includes indirect emissions from the purchase of electricity, and Part 3 includes other indirect emissions from the company’s value chain.
Argo intends to neutralize carbon and go beyond “reducing greenhouse gas emissions by supporting projects other than Argo.” As part of a proactive climate strategy, Argo has encrypted the climate agreement and signed the “United Nations Framework Convention on Climate Change.”
A spokesperson for Argo said this year that the company is monitoring its emissions and then taking various measures to reduce emissions. These measures include the approved acquisition or VER for a forest project in Tennessee and an energy efficiency project in China. For these and other projects, the company purchased more than 30,000 tons of carbon dioxide.
A company spokesperson commented on the company’s plans.
“Argo is developing its Helios power plant in West Texas, which is scheduled to be put into operation in 2022. “The plant will generate 200 MW of energy, mainly from renewable energy.”
After Tesla CEO Elon Musk stated that his company will no longer accept Bitcoin (BTC) payments for environmental reasons, curbing the carbon footprint of the cryptocurrency industry has become an issue for the company and other stakeholders.
Priorities. The CEO of Micro Strategy, Michael Silver, later called on a group called the Bitcoin Mining Council to address the sustainability of mining.
Proponents of Bitcoin believe that digital currencies account for only a small part of global greenhouse gas emissions-negligible compared to the broader financial system. He also claimed that Bitcoin miners are increasingly using sustainable technologies in their operations.
However, with the increasing investment in informed ESG-abbreviated as environmental, social, and management practices-means that Bitcoin companies have a greater urgency to demonstrate their ability to benefit in an environmentally responsible way.