Shares of cryptocurrency mining firm Argo Blockchain (LON: ARB) are trading higher on Friday after the company announced it has signed a deal with DMG Blockchain Solutions to launch a bitcoin mining pool powered by clean energy.
Argo Blockchain’s share price is trading over 12.1% higher at 225p following the news.
Argo and DMG, a blockchain and cryptocurrency technology company, will launch Terra Pool, a bitcoin mining pool powered by clean energy.
The pool will consist of both Argo's and DMG's hashrate, generated mainly by hydroelectric resources.
The company said that Terra Pool represents the first-ever opportunity to create ‘green bitcoin’ with the project looking to move away from conventional power to clean energy and reduce the impact of mining bitcoin on the environment.
“Addressing climate change is a priority for Argo and partnering with DMG to create the first ‘green' Bitcoin mining pool is an important step towards protecting our planet now and for generations to come,” commented Peter Wall, CEO of Argo.
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