Argo Blockchain and the Rise of Green Mining

Published on
March 31st, 2021
Duration
48 minutes


Argo Blockchain and the Rise of Green Mining

The Interview - Crypto ·
Featuring Peter Wall and Moritz Seibert

Published on: March 31st, 2021 • Duration: 48 minutes

Peter Wall, CEO of Argo, joins Moritz Seibert, CEO/CIO of Munich Re Investment Partners and co-founder at TwoQuants.com, to discuss crypto mining, its carbon footprint, sustainable power management, and the institutional adoption of green cryptocurrencies coming out of the space. Wall describes Argo as being focused on access to power and access to machines—with that, Wall pictures Argo as a blockchain technology company that can tap into the both the proof of work and proof of stake sides of the market. He explains that the main argument against mining is its large carbon footprint if you are not mining with renewables. To help solve this problem, Argo has co-founded the first green crypto mining pool, which will pave the way for miners to mint pure green Bitcoin. Wall envisions that, with the institutional adoption of Bitcoin, there will be a concerted effort to ensure that if Bitcoin is added to the balance sheet, companies will push for a green alternative, avoiding any negative pushback. Consequently, Wall hopes that the push for green mining will lead to green Ethereum and in turn green transactions, ensuring that you will never have a Bitcoin mined or any other blockchain powered by less eco-friendly means. Filmed on March 29, 2021.

Key Learnings: With the biggest cost to mining being power, Wall explains that miners are now looking more and more to renewable energy, which is now cheaper than traditional sources for their mining needs. Miners are becoming increasingly aware of their power usage and optimizing their operations, acting as an accordion on power grids to utilize waste power and managing usage based on local needs. With this shift to mitigate future non-renewable usage, Wall believes this will lead to the question, “Will there be a premium or discount on green vs ‘dirty’ Bitcoin, and how will this affect the market and institutional adoption?”