PEGA Pool, the world’s first eco-friendly mining pool, is etching closer to its highly anticipated mainstream release. Set for launch in Q1 of 2023, 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 essential component of the industry, critics admit that the cons are starting to outweigh the pros. The very act of Bitcoin mining relies on intense computational power, which is dependent on coal- and gas-powered power stations.
Both types of power plants emit toxic greenhouse gases, which are spewed into the atmosphere every single day. Fossil fuels are proven to have a devastating impact on global warming, making Bitcoin mining one of the guiltiest culprits in the war against climate change.
Environmental aspects aside, Bitcoin miners are starting to feel the pinch financially. Their profit margins took a huge hit in 2022, with the plummeting Bitcoin price compounded by rising hash costs. BTC miners are struggling to make ends meet, and things aren’t 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 clients who own ASIC mining devices to connect to their network and collaborate to collectively mine Bitcoin. While the goal is to make a full shift to renewable energy BTC mining as soon as possible, PEGA Pool has a plan to ensure that even BTC miners who aren’t yet mining using green energy can still make a difference.
“We’ll be using a portion of our clients’ pool fees to plant trees, if they’re not mining 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 firmly believe that this is the answer to offsetting CO2 and leaving a better world behind for future generations. As we write this, we’ve already planted almost 42,000 trees thanks to the forward-thinking miners in our pool,” continues the founder.
But environmental perks are only half the story. PEGA Pool welcomes all BTC mining clients – regardless of their renewable energy usage – to join the mining pool and enjoy significant reductions in pool fees.
While fees will be set at 2% for non-renewable energy clients, their renewable energy counterparts will only pay 1%, and that’s after paying nothing during the mining pool’s pre-launch period. This comes as an attempt to incentivize BTC miners to explore the shift to green energy Bitcoin mining with more urgency.
PEGA Pool was ranked the 13th largest mining pool on the planet by BTC.com. The British-owned and operated pool is inviting Bitcoin miners to sign up for early-bird access by joining their waitlist ahead of the mainstream launch. To secure one of the last available spots before the eco-friendly mining pool’s unveiling in Q1 of 2023.