PEGA Pool set to change the Bitcoin mining industry
PEGA Pool, the world’s first eco-friendly mining pool, is edging closer to its long-awaited mainstream release. Set to launch in Q1 of 2023, the PEGA Pool was built from the ground up to take action in the face of the Bitcoin industry’s devastating impact on the environment.
While crypto mining is an important component of the industry, critics admit that the disadvantages are beginning to outweigh the advantages. The very act of Bitcoin mining relies on intense computing power, which relies on coal and gas-fired power stations.
Both types of power plants emit toxic greenhouse gases, which are spewed into the atmosphere every single day. Fossil fuels have been shown to have a devastating impact on global warming, making Bitcoin mining one of the biggest culprits in the war on climate change.
Aside from environmental aspects, Bitcoin miners are starting to feel the pinch financially. Their profit margins took a big hit in 2022, with the falling Bitcoin price compounded by rising hashish costs. BTC miners are struggling to make ends meet and things are not looking any better for the coming year.
Enter PEGA Pool, the eco-friendly mining pool that’s here to do something about both dire situations.
How PEGA Pool is transforming Bitcoin mining
Established in 2020, PEGA pool welcomes customers who own ASIC mining units to connect to their network and cooperate to collect Bitcoin. While the goal is to make a complete shift to BTC mining for renewable energy as soon as possible, PEGA Pool has a plan to ensure that even BTC miners who are not yet mining with green energy can still make a difference.
“We will use part of our customers’ pool fees to plant trees, if they do not extract using renewable energy,” says PEGA Pool’s founder. “Trees are our strongest weapon in the fight against climate change. They absorb and store CO2 in their roots, trunks, branches and leaves, and we are convinced that this is the answer to offsetting CO2 and leaving a better world for future generations. As we write this, we have already planted almost 42,000 trees thanks to the forward-thinking miners in our pool, the founder continues.
But environmental benefits are only half the story. PEGA Pool welcomes all BTC mining customers – regardless of their renewable energy use – to join the mining pool and enjoy significant reductions in pool fees.
While fees will be set at 2% for non-renewable customers, their renewable counterparts will only pay 1%, and that’s after paying nothing during the mining pool’s pre-launch period. This comes as an effort to encourage BTC miners to explore the transition to green energy Bitcoin mining with more urgency.
PEGA Pool was ranked 13thth largest mining pool on the planet by BTC.com. The UK-owned and operated pool is inviting Bitcoin miners to sign up for early access by joining their waiting list before the mainstream launch. To secure one of the last available places before the environmentally friendly mining pool is unveiled in the 1st quarter of 2023.
