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, May 14, 2021 (GLOBE NEWSWIRE) -- 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.”