Over the past year, bitcoin mining has received increased scrutiny from the media for the large amount of fossil fuels it consumes. The heightened attention has resulted in multiple actions against bitcoin mining. Elon Musk, for example, announced that Tesla would no longer accept Bitcoin as a form of payment once he became aware of the industry’s reliance on fossil fuels. Canadian energy supplier Hydro-Quebec issued a proposal to block its electricity supply to the blockchain industry.
It’s not just individuals and businesses concerned about bitcoin’s energy usage, but governments as well. In the U.S., the White House has called for further research and standards on the energy impact of crypto mining. Countries such as China have even gone as far as banning crypto mining completely due to its negative environmental impacts.
This heightened awareness of the environmental impact of bitcoin mining has increased the demand for more sustainable options. Enter PEGA Pool, a mining pool committed to providing eco-friendly and sustainable solutions for those who want to mine bitcoin without compromising the environment.
PEGA Pool is a UK-based bitcoin mining pool that enables cooperation among ASIC miners by connecting them together with the PEGA Pool platform. Through their coordination on the platform, PEGA Pool users are able to obtain a more consistent, stable income than they would mining alone. Currently in open beta testing, bitcoin miners are highly anticipating the Q1 2023 launch of PEGA Pool for its ecological benefits and consistent profits.
PEGA Pool is on a mission to create a more sustainable and eco-friendly industry by reducing bitcoin mining’s carbon footprint. The platform is open to all bitcoin mining clients, regardless of whether they use renewable or non-renewable energy.
For those that mine with non-renewable energy, PEGA Pool uses a portion of the client’s pool fees to offset their mining carbon footprint by planting trees. PEGA Pool has already planted nearly 150,000 trees through this structure, creating an estimated yearly offset of 3,843 tons of CO2.
Clients that mine with renewable energy, however, are rewarded with a 50% reduction in pool fees – bringing pool fees to 2% for non-renewable energy clients and 1% for renewable energy clients. The platform’s competitive Pay Per Share + (PPS+) revenue model provides the added incentive needed to make the switch to renewable energy sources. The fee reduction is part of PEGA Pool’s reward to miners who are already making a positive impact on the environment, and encourages others to do the same.
In addition to the significantly reduced environmental impact offered by PEGA Pool, bitcoin miners are also anticipating its release for a more stable income. Currently, bitcoin miners are feeling the pinch in their profit margins. Bitcoin mining difficulty has increased and the price of bitcoin has decreased, making it a challenge for miners to turn a profit.
This is where PEGA Pool comes in. By joining PEGA Pool, miners receive reduced pool fees, which can make all the difference in their bottom line. With PEGA Pool’s lower fees, miners can easily and quickly increase their profits. This makes PEGA Pool an attractive option for miners in today’s competitive environment.
Most importantly, PEGA Pool offers a reliable bitcoin mining pool infrastructure that is architected to be highly resilient to equipment failures and outages. Established and operating in the U.K., the platform combines top talent from around the globe in a country unhindered by geopolitical risks.
Built on a strong foundation and with the vision to make bitcoin mining green, it’s no wonder that PEGA Pool is ranked 13th largest pool in the world by hashrate. As the platform moves from beta to a full launch in Q1 2023, PEGA Pool is positioned to be a game changer for miners looking for more consistent profits with a smaller environmental footprint.
