- DMG Blockchain (DMGI) and Argo Blockchain have committed to net-zero emissions from electricity consumption by signing the Crypto Climate Accord
- The accord aims to transition the crypto industry to net-zero greenhouse gas emissions by 2040
- It seeks to reach this goal through achieving net-zero emissions from electricity consumption for accord signatories by 2030
- The accord also seeks to accelerate and verify progress toward 100-per-cent renewably-powered blockchains by the 2025 UNFCCC COP30 conference
- Argo Blockchain is a cryptocurrency miner with one of the largest and most efficient operations powered by clean energy
- DMG manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem
- DMG Blockchain Solutions (DMGI) is up by 12.35 per cent and is currently trading at $1.00 per share
DMG Blockchain (DMGI) and Argo Blockchain have committed to net-zero emissions from electricity consumption by signing the Crypto Climate Accord.
Launched by Energy Web, the Alliance for Innovative Regulation, and RMI, the accord is a private sector-led initiative inspired by the Paris Climate Agreement focused on decarbonizing the cryptocurrency industry in record time.
DMG and Argo are also developing a new working group to more clearly outline the accord’s objectives, as well as deploying new technologies that increase the transparency of renewable energy sourcing for crypto mining.
An amplified demand for cryptocurrencies has highlighted the ecological impact that blockchain technology has on the world. Bitcoin miners currently account for up to an estimated 0.5 per cent of global power usage. This makes for a crucial opportunity to decarbonize this growing power usage.
In an effort to transition to crypto industry to net-zero greenhouse gas emissions by 2040, the accord has outlined the following objectives:
- Achieve net-zero emissions from electricity consumption for accord signatories by 2030
- Develop standards, tools and technologies with accord supporters to accelerate the adoption of and verify progress toward 100-per-cent renewably-powered blockchains by the 2025 UNFCCC COP30 conference
The Crypto Climate Accord currently has over 40 organizations on board, including 20 prominent cryptocurrency organizations.
Sheldon Bennett, CEO of DMG Blockchain Solutions, commented,
“Since our inception, DMG has been committed to transparency and good governance. Partnering with the Crypto Climate Accord alongside Argo allows us to apply those values to put us on a path to become a more sustainable industry.”
Peter Wall, CEO of Argo Blockchain, added,
“As more data continues to surface regarding Bitcoin and Bitcoin mining’s impact on the environment, it’s imperative that the industry takes real, tangible action. The Crypto Climate Accord helps lay the groundwork for that action and we are both eager and determined to ensure that supporters and signatories remain committed to the CCA’s goals.”
Argo Blockchain is a cryptocurrency miner with one of the largest and most efficient operations powered by clean energy.
DMG manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem.
DMG Blockchain Solutions (DMGI) is up by 12.35 per cent and is currently trading at $1.00 per share as of 9:30 am ET.