If there is one thing that the mainstream associates Bitcoin mining with, it’s the excessive usage of electricity. Many people (and regulators) believe that BTC mining is going to fry the world because it uses so much electrical energy. Some governments have outright banned it. For example, back in January this year, Kosovo introduced a blanket ban on cryptocurrency mining inside the country’s borders in a bid to curb electricity consumption. In the US, for example, regulators are trying to confine the industry within certain boundaries and introduced an increase of a whopping 29% on the electricity that Bitcoin mining companies have to pay. Called Tariff 36, the bill requires mining companies to pay a higher rate because their electricity consumption is much higher than
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If there is one thing that the mainstream associates Bitcoin mining with, it’s the excessive usage of electricity.
Many people (and regulators) believe that BTC mining is going to fry the world because it uses so much electrical energy. Some governments have outright banned it. For example, back in January this year, Kosovo introduced a blanket ban on cryptocurrency mining inside the country’s borders in a bid to curb electricity consumption.
In the US, for example, regulators are trying to confine the industry within certain boundaries and introduced an increase of a whopping 29% on the electricity that Bitcoin mining companies have to pay.
Called Tariff 36, the bill requires mining companies to pay a higher rate because their electricity consumption is much higher than the standard rate.
What this narrative, and the people behind it, fails to realize is that there are companies that are taking a much more effective and greener approach to Bitcoin mining.
PEGA Pool and Eco-Friendly BTC Mining
PEGA Pool is on a mission to effectively reduce the carbon footprint of Bitcoin mining and work towards the creation of a more sustainable and eco-friendly industry.
Interestingly enough, PEGA Pool welcomes all BTC mining clients, regardless of their renewable energy usage. However, those clients who mine with non-renewable energy, they will use a portion of their pool fees to plant trees in an attempt to effectively offset their mining carbon footprint.
For those who mine with renewable energy, on the other hand, the company will reward them with a 50% reduction in the pool fees.
Speaking of fees, they are set to 2% for non-renewable energy clients and 1% for renewable energy clients while also introducing a competitive PPS+ revenue model.
This is a dynamic approach that is evidently aimed at encouraging the use of renewable energy sources when it comes to Bitcoin mining while also offsetting the carbon footprint of miners who can’t rely on such sources.
The Company
The company is British-owned and operated, which speaks for its credibility and quality. This should put it at an advantage compared to other mining pools with dubious roots.
It’s ranked as the 12th largest pool in the world by means of total hashrate, according to BTC.com, although currently, the only company that mines with it is PEGA Mining – the sister entity, as well as some beta testers.
It’s worth noting that clients that are accepted for beta testing will be able to benefit from 0% pool fees during the beta stage, as well as a fixed and permanent pool fee of 0.5% post-launch, which is expected in the first quarter of 2023.