New Bitcoin Mining Pool to Reward Miners Using Renewable Energy & Offset Carbon Emissions

1: pega pool, a new bitcoin mining pool launching in 2023, is aiming to reduce its environmental impact and reward miners who use renewable energy. according to a september 2022 study, fossil fuels account for 62.4% of bitcoin miners’ electricity mix and the average emission intensity of bitcoin increased from 491.24 gco2e/kwh to 531.81 gco2e/kwh between 2020 and 2021. in may 2021, tesla abandoned plans to accept payment for its products in bitcoin due to concerns over the use of fossil fuels for mining and in june 2021, china cracked down on bitcoin mining.

2: the pega pool mining pool has offered a 50% reduction in pool fees for miners who use renewable energy, from 2% to 1%. a portion of the pool fees from clients using non-renewable energy will be allocated to carbon offset schemes that plant trees to reduce the environmental impact of mining activities. clients that join pega pool’s early access waiting list will receive a permanent 50% reduction in pool fees and clients accepted for beta testing will see 0% pool fees during the beta stage and a permanent pool fee of 0.5% post-launch.

3: bitcoin miners are redoubling their focus on sustainability and stable profits in the midst of the current bear market and pega pool is aiming to provide an eco-friendly alternative to the industry’s notoriously high carbon footprint. pega pool operates using a competitive pay per share plus (pps+) revenue model and is already the 13th largest pool in the world by hashrate, according to some advocates argue that bitcoin could actually help to accelerate the transition to renewables.

By Evey Lovelace

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