Argo is a company that uses blockchain technology and is focused on large-scale mining, it operates in Texas while its offices are in the US, Canada and the UK, and is listed in both the US and the UK (LSE: ARB, NASDAQ: ARBK).
Argo: spearheading sustainability
The company has distinguished itself over the years for operating the bulk of its service through renewable energy in contrast to other companies in the industry and against the trend of mining in general.
In 2021 it was one of the signatories to the Crypto Climate Accord (CCA) and was the most green-conscious mining company.
Through its Argo Labs division, the company also participates in Web 3.0, DeFi and GameFi projects contributing to the development of the cryptocurrency market.
Peter G. Wall, interim CEO of Argo said:
“We are pleased to provide this report that highlights the progress we’ve made in our commitment to sustainability and Argo’s climate strategy, and plan to maintain our climate positive status. For our team, sustainability is integral to our business model. This report highlights Argo’s focus on improving mining efficiencies, reducing our impact on the planet, and increasing our overall productivity”.
The report released this year for the first time will be prepared annually from here on out, explains the CEO, and will update shareholders on green and mining capacity progress.
In this regard, Argo will no longer emit Type 1 emissions from here on by making the only GHG emissions to those of Type 2 while Renewable Energy Credits (RECs) are bought from Argo’s own facilities or hosted by Argo itself for emissions generated from electricity use.
Type 3 GHG emissions are derived from emissions prior to purchased capital equipment and from combustion activities.
VERs (Verifiable Emission Reductions) are purchased along the value chain, and this will be systematically repurposed to remain mindful of nature and the climate in general.
The company’s priority is sustainability in the areas of energy efficiency, electronic waste reduction, waste heat recycling in collaborations with entities and municipalities, and support of the mining sector in all its forms as long as these are sustainable, in doing so Argo hopes to develop this sector and be supported by ever more Bitcoin miners.
Source: https://en.cryptonomist.ch/2022/08/19/argo-announces-sustainability-report/