Peter Wall is the CEO of Argo Blockchain and he was on CNBC recently to talk about how they are trying to make Bitcoin and other cryptocurrencies more environmentally friendly.
He said the company answered questions about Bitcoin from people in China. The country banned mining and it is good for the environment. Mining can use a lot of fossil fuels, so if there is less mining Bitcoin, less fossil fuels will be used.
In North America, miners are welcome and there is a lot of renewable energy that can be used for mining. This is not true in other parts of the world. The Argo chief also said that there are agencies working on this problem.
Argon has joined the Bitcoin mining council. It is led by Microstrategy’s co-founder Michael Saylor and Tesla’s chief executive officer Elon Musk. The company also signed the crypto climate accord. The goal of this agreement is to decarbonize the global crypto industry.
To make sure that there is no more greenhouse gas emissions by 2040, the council is working on it. People worry about using fossil fuels to mine crypto assets. Elon Musk and Peter Wall are trying to make sure that the future of crypto is renewable energy. Argo Blockchain is a company that shares ownership with many other people. They are on the London Stock Exchange. Argo provides services for mining your top cryptocurrencies.