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Argo Blockchain joins new Bitcoin Mining Council set up after Elon Musk call

The BMC is comprised of several North American cryptocurrency miners to promote energy transparency and improve sustainable mining practices

Argo Blockchain PLC - Argo Blockchain joins new Bitcoin Mining Council

Argo Blockchain PLC (LON:ARB) said it has joined the newly formed Bitcoin Mining Council (BMC), an organisation comprised of North American cryptocurrency miners designed to promote energy transparency and improve sustainable mining practices.

The company said miners in the region had come together on Sunday to discuss ESG issues related to Bitcoin mining with Tesla Inc (NASDAQ:TSLA) boss Elon Musk, and following a 90-minute call, the participants agreed to form the BMC.

READ: Argo Blockchain inks crypto climate accord to promote industry decarbonisation

Alongside Argo, other firms that attended the BMC formation meeting included MicroStrategy Inc (NASDAQ:MSTR), Galaxy Digital Holdings Ltd (TSE:GLXY), Hut 8 Mining Corp (TSE:HUT), Marathon Digital Holdings Inc (NASDAQ:MARA), HIVE Blockchain Technologies Ltd (CVE:HIVE), Core Scientific, Blockcap and Riot Blockchain Inc (NASDAQ:RIOT).

"Today is a good day for the planet. Sustainability has always been at the heart of Argo's mining operations and the newly formed Bitcoin Mining Council is the next logical step in fostering a sectoral shift towards renewable energy,” Argo chief executive Peter Wall said in a statement.

“I enjoyed speaking with Elon Musk about these issues this weekend, and look forward to joining Michael Saylor and other leading North American miners in working to future-proof an industry that must collectively improve sustainable mining practices and take ESG concerns seriously," he added.

Argo shares were up 15% to 136p on Tuesday morning.


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Quick facts: Argo Blockchain PLC


Price: 164.4 GBX

Market Cap: £616.66 m

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