Argo Blockchain is a tech company that offers blockchain solutions to businesses. It aims to simplify blockchain technology so companies can cut expenses and streamline operations.
Argo Blockchain is a publicly listed blockchain technology company that focuses on mining cryptocurrencies on a large scale. They are the only digital currency mining company traded on the London Stock Exchange; the company has its headquarters in London, UK.
Blockchain technology could transform the world’s future, and Argo Blockchain is fully dedicated to advancing it sustainably. The company’s mining operations are highly energy-efficient, and its locations are throughout North America.
Environmental Benefits of Argo Blockchain
A business’s environmental impact is a crucial consideration. Argo Blockchain excels in this area by lowering its carbon footprint using renewable energy sources like hydropower and solar power.
Still, Argo Blockchain is working to increase the efficiency of its mining operations further by using less energy to run them. By becoming carbon neutral, the company decreased its greenhouse gas emissions.
The blockchain business is also the first environmentally-friendly cryptocurrency miner listed on a public exchange.
Crypto mining and Argo Blockchain’s carbon footprint
The exact energy consumption of Bitcoin and crypto mining cannot be determined. However, the hash rate of the network and the power usage of commercially available mining rigs can be used to estimate this consumption rate.
Meanwhile, the CBEC (Cambridge Bitcoin Electricity Consumption) Index shows that the production of Bitcoin, the most widely used cryptocurrency network, requires approximately 218 TWh of energy (0.13% of the world’s energy production).
Also, on-chain data shows that the annual carbon dioxide emissions from the Bitcoin network amount to 73 million tons, which is equivalent to Turkmenistan’s emissions. The estimated 35.4 million tons of carbon dioxide emissions from Ethereum mining are comparable to New Zealand’s.
Compared to other Bitcoin mining activities, which use a lot of fossil fuels and emit carbon dioxide, Argo Blockchain is developing eco-friendly solutions.
Argo Blockchain And Cracking Cryptocurrencies
Cryptocurrencies are digital tokens that secure transactions using cryptography. As a decentralized entity, the government or financial institutions do not govern cryptocurrencies.
Argo Blockchain, a cryptocurrency mining business, offers temporary (daily) and long-term (annual) contracts to people wishing to enter the field. They provide two options for those who want to mine over a longer time frame and one contract plan for those seeking short-term mining opportunities.
The yield is 12% annually, with an average daily return rate of 1%. However, withdrawals are only permitted once every day and take around 24 hours to process, which could be inconvenient for some investors.
What Sets Argo Blockchain Apart in the Crypto Mining Industry?
The mining firm uses conventional and cloud-based mining equipment. Both short- and long-term strategies are available, allowing you to select the one that best suits your requirements.
Argo Blockchain attends to its environmental responsibilities compared to other cryptocurrency mining firms that disregard their ecological commitments. The company takes action to lower emissions from its regular operations because its management team does not believe carbon dioxide should be produced more than the environment can sustain.
Solar panels on the company’s property are one example of using renewable energy sources to decrease emissions from operations. The company also monitors its power usage to ensure it doesn’t exceed 110% of the power grid’s capacity.
Conclusion
Argo Blockchain is a company that mines cryptocurrency. It was founded in 2017 and has its headquarters in the United Kingdom. Two mining facilities are located in Canada’s Quebec province.
Since 2018, the mining firm has advanced by attending to its environmental responsibilities compared to other cryptocurrency mining firms. Argo Blockchain is a good choice for anyone wishing to make a cryptocurrency mining investment.
In addition, Argo Blockchain shares are profitable, offering competitive returns. Hence, they are a wise investment choice.
