- Crypto mining has received backlash for its huge energy consumption.
- UK-based mining pool, PEGA Pool (NASDAQ:POOL), aims to address this concern.
- The main focus of PEGA Pool is to rely on renewable energy for BTC mining.
Over the years, one of the most debated topics in the crypto community is Bitcoin mining’s climate impact, and it is well reported that crypto mining consumes a substantial amount of energy during the process. To tackle this problem, various organizations and individuals have tried to propose efficient and alternative methods of crypto mining that do not require a lot of energy consumption.
With this in mind, a UK-based mining pool, PEGA Pool, officially launched, with a mission to conduct Bitcoin mining from the “clean energy” angle. The main focus of this mission is to rely on renewable energy sources. PEGA Pool has, so far, received support from various industries.
During the prelaunch, reportedly, the project acquired almost 1% of the global Bitcoin mining power, indicating that PEGA Pool is taking a step forward toward the green revolution for BTC miners.
Addressing the launch of PEGA Pool, the CEO, David Bungay, stated:
“I am very excited to announce the official launch of PEGA Pool, our British Eco-Friendly Bitcoin Mining Pool. Our journey began with PEGA Mining which gave us the desire to build PEGA Pool and provide the world with what was missing in our industry.”
Bungay pointed out that PEGA Pool does not only act as a mining pool but also provides a chance to allow industries to evolve and follow in their footsteps.
Furthermore, PEGA Pool will encourage users to partake in this mission by giving them a 50% mining pool fee deduction, which generates more revenue per Tera Hash of mining. PEGA Pool has opened the doors for various clients irrespective of their energy source.
The UK-based mining pool also announced that for users who rely on fossil fuel, a portion of their pool fees will be used to plant trees in the hopes of reducing carbon emissions, thus, making them on track with their mission for a greener tomorrow.
PEGA Pool’s launch has been announced during a tough time for many crypto-mining companies. Last year, New York became the first state in the US to temporarily ban new crypto-mining permits at fossil fuel plants to address the huge energy consumption. Regulators worldwide have started to impose bans, while crypto-mining firms search for alternative solutions to reduce the overall carbon footprint.
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