In Brief:
- Argo Blockchain becomes the first publicly traded cryptocurrency miner to be carbon neutral.
- The firm is set to continue to benefit from global mining disruption.
Argo Blockchain PLC, a global pioneer in bitcoin mining, said that it’s the first publicly traded cryptocurrency miner that becomes Climate Positive. They have achieved it from scope one, two, and three greenhouse gas (GHG) emissions from its mining operations’ value chain.
According to the company, being climate positive means addressing its own GHG emissions to achieve carbon neutrality. It also means that going even farther by offsetting emissions by supporting projects outside the company.
The climate positive achievement, according to Argo blockchain, is a “major milestone” in the company’s climate strategy. It includes existing and future initiatives in energy efficiency, e-waste reduction, waste heat reuse in collaboration with local governments, etc.
The Company has built out its Climate Positive Strategy over the last year, reaching a lot of milestones.
Among them are:
- Purchased Hydro and Wind Renewable Energy Credits (RECs),
- Signed UNFCCC Climate Neutral Now Pledge,
- Signed Crypto Climate Accord,
- Prioritized direct renewable power purchases on-site or from a local grid,
- Purchased Verified Emissions Reductions (VERs) for 2020, etc.
The company also stated that it has met a number of significant milestones. It includes purchasing renewable energy credits (RECs), as well as purchasing additional offsets.
“We are thrilled to welcome Argo Blockchain, in reaching a Climate Neutral world by 2050,” said Miguel Naranjo, Program Officer at the UNFCCC secretariat.
“Argo believes in conserving our world – because of its good commercial sense, and also it simply makes sense,” Peter Wall, Argo chief executive, and interim chairman stated.
Also Read: Argo Blockchain files for IPO In the US
The company also stated that it is collaborating and partnering with competitors, consultants, and councils. The company wants to ensure that the crypto mining sector can derive solutions faster and more efficiently.
Argo will continue innovating and prioritizing sustainability on its path to being a climate action leader in the crypto and bitcoin mining world. Moving forward Argo will release an annual Climate Report to overview its developments as well as industry wide changes.
About Argo Blockchain:
Argo is a blockchain technology business focused on large-scale cryptocurrency mining that is publicly listed. It is the only cryptocurrency mining company listed on the London Stock Exchange, with headquarters in London, England. Argo has strategically placed its powerful and energy-efficient mining operations across North America.
