Argo Blockchain inks crypto climate accord to promote industry decarbonisation

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Argo Blockchain PLC (LON:ARB) said it has signed a crypto climate accord (CCA) in partnership with DMG Blockchain Solutions to promote the decarbonisation of the cryptocurrency industry.

The Bitcoin miner said that in conjunction with the CCA both firms are jointly developing a maiden working group to clearly outline the accord’s aims while deploying new technologies that increase the transparency of the renewable energy sourcing of crypto mining.

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The CCA, which has 40 signatories including 20 prominent crypto firms, also outlines several objectives to decarbonise the industry including reaching net-zero emissions from electricity consumption by 2030 and developing standard, tools and technologies to accelerate the adoption and verification of 100% renewables-powered blockchains by the United Nations Framework Convention on Climate Change (UNFCCC) COP30 conference in 2025.

“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. 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 group’s goals”, Argo chief executive Peter Wall said in a statement.

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