While Bitcoin has been at the epicentre of a global controversy storm for several years now, one company is hoping to change that by turning the entire industry on its head – in the best way possible.
PEGA Pool is the first and only eco-friendly mining pool in the world, and they are on a mission to lighten Bitcoin’s load on the environment while creating a more sustainable crypto industry for all.
“We don’t want the unborn generations of tomorrow to be left picking up the pieces of our mess,” says a PEGA Pool. “While we’re still here, we all have a collective responsibility to fix the problems we’ve created – and that’s exactly what we’re on a mission to achieve through PEGA Pool”.
The problem with the crypto industry today – Bitcoin in particular – is mining. While the action of BTC mining is essential for verifying transactions and bringing new coins into circulation, the process is heavily reliant on large amounts of electricity. The burning of fossil fuels creates toxic greenhouse gases which, when spewed into the atmosphere, destroy the ozone layer and speed up the devastating effects of global warming.
PEGA Pool’s plan is to plant more new trees in an effort to offset these CO2 emissions, which they will achieve by using a portion of their members’ fees. Trees absorb CO2 and create oxygen, making reforestation an essential alliance in the fight against climate change.
While a staggering 300 million new trees would be needed to see a significant carbon offset, PEGA Pool has already planted over 75,000 trees as we write this – and they haven’t even officially launched yet. Back in 2019, Ethiopia set a new world record by planting more than 350 million trees in a single day. It’s possible, and the future looks bright with PEGA Pool at the helm of this ship.
All Bitcoin miners are invited to join the eco-friendly mining pool, regardless of their current renewable energy status. In fact, the miners who are not yet mining BTC using renewable energy are the ones who can make the biggest difference. A percentage of their pool fees will be used to plant new trees, while miners who are already mining using green energy will enjoy incredible discounts on their pool fees for their efforts to make the crypto industry more sustainable.
This couldn’t come at a better time, what with the BTC price at an all-time low, matched only by the fact that hash rate is making it harder than ever to mine Bitcoin and make any sort of profit. In fact, as of just a few days ago, Bitcoin miners’ revenue hit a two-year low, with the hash rate soaring by almost 11%.
By giving BETA testers a 100% reduction in their pool fees, followed by a 50% discount for life once PEGA’s ecological mining pool goes mainstream in Q1 of 2023, it’s clear to see why their waitlist is filling up so quickly.