DMG Blockchain Solutions and Argo Blockchain Sign Crypto Climate Accord
Eco-Forward Blockchain Companies to Support CCA through Implementation of Carbon-Neutral Initiatives and CCA Green Hash Rate Working Group
VANCOUVER, British Columbia : DMG Blockchain Solutions Inc. (TSXV: DMGI) (DMGGF: OTCQB) (FSE: 6AX) (“DMG” or the “Company”) a vertically integrated blockchain and cryptocurrency technology company, and Argo Blockchain Plc (OTCQB US: ARBKF), a UK-based global cryptocurrency mining company, today announced their partnership in the Crypto Climate Accord (CCA) to promote the decarbonization of the cryptocurrency industry.
Alongside the CCA, DMG and Argo are developing a new working group to more clearly outline the CCA’s objectives, while deploying new technologies that increase the transparency of the renewable energy sourcing of crypto mining.
DMG and Argo, both industry leaders in the development of clean mining, are working with the CCA to ensure the accord’s objectives promote meaningful impact in reducing overall emissions for the crypto industry.
The companies are working to align their goals and objectives with the CCA while enhancing current protocols, demonstrating an industry-leading commitment to environmental stewardship and to addressing the criticisms regarding industry greenwashing.
A result of this dialogue has been the refining of the CCA’s objectives, including the addition of a signatory commitment by founding members, DMG and Argo.
An amplified demand in cryptocurrencies has highlighted the ecological impacts that blockchain-based technology can, and will, have on the world. Bitcoin miners around the world currently account for up to an estimated 0.5% of global power usage.
There is an immediate and crucial opportunity to decarbonize this growing power usage. In April of this year, founding members of the CCA, a private sector-led initiative, committed to making the cryptocurrency industry powered with 100% renewable energy.
“Since our inception, DMG has been committed to transparency and good governance,” said Sheldon Bennett, CEO of DMG Blockchain Solutions. “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. Together, we can finally put the wheels in motion to transition the cryptocurrency industry into one that focuses on renewable energy.”
“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,” said Peter Wall, CEO of Argo.
“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.”
In an effort to decarbonize the global crypto industry by prioritizing climate stewardship and creating the opportunity for the entire crypto industry’s transition to net-zero greenhouse gas emissions by 2040, the CCA has outlined the following objectives:
Achieve net-zero emissions from electricity consumption for CCA Signatories by 2030.
Develop standards, tools, and technologies with CCA Supporters to accelerate the adoption of and verify progress toward 100% renewably-powered blockchains by the 2025 UNFCCC COP30 conference.
“We are ready to roll up our sleeves and begin developing new solutions in support of the CCA,” said Jesse Morris, Chief Commercial Officer at Energy Web.
“Based on early industry feedback about the CCA, we know that this green hash rate solution is critical to assist individual mining facilities prove their use of renewables and the industry as a whole to set an example for other industries to follow.
We look forward to working closely with DMG, Argo, and other CCA Supporters to develop this solution and introduce it to the market as quickly as possible.”
With DMG, Argo, and over 40 organizations on board – including 20 prominent cryptocurrency organizations – the CCA is on a path to achieve the stated objectives through the promotion and use of renewable energy solutions.
The CCA invites subject matter experts, and others in the space to sign onto and aid in the implementation of the working group.
About DMG Blockchain Solutions Inc.
DMG is a vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem.
DMG’s businesses are segmented into three main divisions: data centre operations, data analytics & forensics and developing enterprise blockchains.
DMG’s data centre operations focus on earning revenues from block rewards and transaction fees by mining primarily bitcoin as well as providing hosting services for industrial mining clients.
DMG’s data analytics and forensic services provide technical expertise and software products such as Blockseer Pool, Mine Manager and Walletscore, as well as working with auditors, law firms, and law enforcement organizations.
DMG’s permissioned blockchain technology is focused on developing enterprise software for the supply chain management. DMG’s strategy is to become the domain experts across the business verticals it focuses on.
DMG’s management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry.
Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG’s production of Bitcoin, and future operational results could also be materially affected by the price of Bitcoin and an increase in hashrate mining difficulty.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
On behalf of the Board of Directors,
About Argo Blockchain Plc
Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. The Company is headquartered in London, UK and its shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB and on the OTCQX Best Market in the United States under the ticker: ARBKF.
For more information on Argo Blockchain visit: www.argoblockchain.com
