Cryptocurrency mining company Argo Blockchain announced Tuesday that it has reached an important milestone in its climate strategy, sending a strong signal that environmental sustainability remains one of its primary focuses.
The company claimed that its crypto operations have become “climate positive” for Scope 1, 2 and 3 greenhouse gas emissions. According to Carbon Trust, a global advocacy group for environmental sustainability, Scope 1 emissions are direct emissions from a company’s owned or controlled sources; Scope 2 covers indirect emissions through the purchase of electricity; and Scope 3 includes all other indirect forms of emission that occur in a company’s value chain.
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