The first ever ‘green Bitcoin’ is about to be minted

Bitcoin
(Image credit: Shutterstock / REDPIXEL.PL)

Cryptocurrency companies Argo and DMG have signed a memorandum of understanding (MoU) with a view to launching a new Bitcoin mining pool that operates exclusively on renewable energy.

In a statement, the pair explained that the mining operation, named TerraPool, will consist of both Argo’s and DMG’s hashrate, which uses energy generated predominantly by hydroelectric sources.

The goal is to establish the “first ever opportunity for the creation of green Bitcoin” and to provide a clear roadmap for minimizing the effects of Bitcoin mining on the environment.

Eco-friendly Bitcoin, an oxymoron?

The recent surge in the price of Bitcoin has also placed cryptocurrency mining practices under the spotlight. One of the most common grievances with Bitcoin mining has to do with the toll it takes on the environment.

Under the proof-of-work (PoW) system on which Bitcoin operates, mining syndicates compete to solve complex mathematical problems. The first to do so earns the right to process a block of transactions, in exchange for transaction fees and newly minted cryptocurrency.

Although this system is crucial to running and securing the Bitcoin network, the amount of energy used up by competing miners is astronomical. A recent report from the University of Cambridge asserted that Bitcoin uses up more energy on an annual basis than the country of Sweden, at 139.15 TWh/year.

By running a mining operation on energy generated from renewable sources, however, Argo and DMG believe they can reverse the narrative surrounding Bitcoin mining and accelerate the transition from conventional mining to clean energy equivalents.

“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,” said Peter Wall, CEO at Argo Blockchain.

“We are hopeful other companies within the Bitcoin mining industry follow in our footsteps to demonstrate broader climate consensus.” 

The largest caveat, however, is that the equipment required to construct renewable energy infrastructure has a carbon footprint of its own. For those that believe the utility of Bitcoin isn’t worth the energy spent to support it, not even a mining operation powered wholly by renewable energy can provide a solution.

Joel Khalili
News and Features Editor

Joel Khalili is the News and Features Editor at TechRadar Pro, covering cybersecurity, data privacy, cloud, AI, blockchain, internet infrastructure, 5G, data storage and computing. He's responsible for curating our news content, as well as commissioning and producing features on the technologies that are transforming the way the world does business.

Read more
A person standing in front of a rack of servers inside a data center
Data centers are transforming waste heat into community energy assets
Data center racks with cables and servers
What data centers should consider to establish more sustainable operations
An AMD Radeon RX 7900 XTX on a table against a white backdrop
Best mining GPU for mining crypto in 2025
A person holding out their hand with a digital AI symbol.
Satellites, AI and blockchain: the unsung heroes in sustainability innovation
Data center racks with cables and servers
AWS partners with Orbital Materials to boost carbon removal, cooling, and efficiency in data centers
Ai tech, businessman show virtual graphic Global Internet connect Chatgpt Chat with AI, Artificial Intelligence.
ChatGPT vs. DeepSeek: which AI model Is more sustainable?
Latest in Software & Services
woman listening to computer
AWS vs Azure: choosing the right platform to maximize your company's investment
Group of people meeting
Zoom vs Google Meet: which is the best video conferencing tool for your business?
Person at laptop
Windows 11 vs Windows 365: which is the best choice for businesses?
A man sitting at his desk in the evening and using a desktop computer
Office 2021 vs Office 2024: is it time to upgrade?
Microsoft 365 Business app logos
Office 2024 LTSC vs Microsoft 365 Business: what are the differences?
Windows 11 Start menu layout choices: Grid view
Windows 11 vs Linux for business: which operating system should you embrace?
Latest in News
Brad Pitt looks over his right shoulder with 'F1' written behind him
Apple Original Films will take you behind-the-scenes of a racing cockpit in this new thrilling F1 movie trailer
Reacher looking down at another character from the Prime Video TV series Reacher
Reacher season 3 becomes Prime Video’s biggest returning show thanks to Hollywood’s biggest heavyweight
Image showing detail of the Leica D-Lux 8
Still can't get a Fujifilm X100VI? This premium Leica compact costs less, and it's in stock
Man using iMessage on an iPhone
Apple will finally enable encrypted RCS messages between iOS and Android, and it's about time
Google Messages update
Google Messages could soon follow WhatsApp with an upgrade that makes it much easier to join group chats
Jason Sudeikis' Ted Lasso pointing at someone in Ted Lasso season 2
Believe it, baby: Ted Lasso season 4 is officially in development for Apple TV+ and Jason Sudeikis will reprise his role as the titular soccer coach