Argo has been committed to sustainability since our inception.
We’ve been careful about choosing the right energy sources and taking measurable steps in our operations to reduce our overall impact.
We believe in preserving our planet – not only because it makes business sense, but because it just makes good sense.
Our Energy Sources
Argo sources its energy from Hydro and other renewable clean sources wherever possible.
Our newly acquired Quebec facilities are on the Hydro Quebec power grid which use 100% Hydro and Wind
By choosing Quebec hydropower, Argo avoided 14.9 MTCO2e in 2020.
In the US, RECs were purchased to neutralize all 46.9 MTCO2e of emissions resulting from Argo’s operations.
Our Texas facilities (in development) will source mainly wind and solar power.
Argo's Climate Roadmap
The Path to becoming Climate Positive
Argo begins operations in Quebec where hydropower is abundant and affordable.
Expansion & Emmisions Goals
Argo expands operations to the United States,, decides to address its GHG emissions.
Climate Advisor Enlisted
Argo begins consultation with Guidehouse to determine how best to address its emissions.
Expansion Begins in West Texas
Argo purchases “Helios” site in West Texas to make use of abundant nearby renewables and host renewable generation at site.
Founded Terra Pool
Together with DMG, Argo founds Terra Pool, the world’s first Bitcoin mining pool powered by clean power. Launch planned for Q3 2021.
Signed Crypto Climate Accord
Argo commits to being Climate Positive by 2030, supports the adoption & verification of blockchains powered by 100% renewable sources by 2025.
July 2021: Argo Becomes Climate Positive
Argo becomes first Climate Positive cryptocurrency mining company by purchasing RECs and VERs in excess of its Scope 2 & 3 GHG emissions; begins implementing its climate strategy.
Argo will continue innovating and prioritizing sustainability on its path to being a climate action leader in the Bitcoin mining world.
Climate Positivity Strategy
Signed UNFCCC Climate Neutral Now Pledge
Purchase RECs retroactively for 2020
Prioritize direct renewable purchase on-site or from local grid
Purchase RECs for any remaining non-renewable electricity use (scope 2)
Purchase GHG offsets for any emissions associated with its value chain (scope 3).
Purchase additional offsets to reduce emissions further and have a “climate positive” overall impact
Initiatives and Partnerships
In May 2021, Argo was one of the first signatories of the Crypto Climate Accord (CCA), an advocacy group that pushes for lower carbon emissions in the crypto mining industry.
REBA is an alliance of large clean energy buyers, energy providers, and service providers that are unlocking the marketplace to lead a rapid transition to a cleaner, prosperous, zero-carbon energy future.
Climate Neutral Now Initiative encourages and supports organizations like Argo to act now in order to achieve a climate neutral world by 2050, as enshrined in the Paris Agreement.
When machines break down, we always repair them and are continuously working on ways on increasing their lifespan.
We don’t throw away any parts. We salvage power supplies, fans, and even re-use chips.
By incorporating immersion mining in our mining fleet in Texas, we’re also reducing e-waste. Immersion mining helps double the lifespan of our miners.
The Path Forward
Argo will continue innovating and prioritizing sustainability on its path to being a climate action leader in the bitcoin mining world.
This is demonstrated by ongoing initiatives in energy efficiency, reducing e-waste, supporting the industry with sustainability standards, etc.
Since embarking on our climate strategy, Argo has sprinted to this position. Our goal is to lead by example and to motivate other companies to join the mission.