DMG Blockchain Solutions Inc. announced the launch of Terra Pool, a clean, renewable energy Bitcoin mining pool partnership between DMG and Argo Blockchain plc. Testing has concluded and Terra Pool (www.terrapool.io) is now open to the general Bitcoin mining public. Terra Pool, developed using DMG's Blockseer technology, is a unique Bitcoin mining pool focused on clean energy as the basis for participation.

The pool allows its members to showcase their commitment to clean energy operations and creates new bitcoin from renewable energy sources. In June of 2021, DMG and Argo Blockchain announced Terra Pool's joining the Crypto Climate Accord (CCA) to accelerate the implementation of solutions that decarbonize crypto mining and the blockchain sector as a whole. DMG, along with Argo, are the first two signatories of the CCA.

Pools are an essential tool for the process of mining, as they bring together the computational resources of multiple mining companies to reduce revenue volatility while providing a proportional payout structure that ensures secure transfer of mining transactions to the rightful owners' digital wallets. DMG believes Terra Pool has many advantages over existing pools, including: Goal of 100% clean renewable energy power sources from each miner; Monetization of Terra Pool-created bitcoin, which may derive a price premium over other bitcoin; Annual audits by an independent third party audit firm, providing greater transparency of pool operations; Association with other clean energy miners rather than those supporting carbon-intensive energy sources. The Company believes Terra Pool will become an essential part of any bitcoin miner's governance to demonstrate carbon neutrality and ESG-centric operations core to their stakeholder values.

Over the past few years, there has been an increased focus on the energy consumption of bitcoin mining. Governments such as New York State are creating rules that single out bitcoin miners due to their energy use; however, there are ways that bitcoin miners can show that they are carbon-neutral or on a path to carbon-neutral energy without the need for extensive government oversight. As Terra Pool is the first public pool to be run by a publicly traded company, it is required to be audited by a third-party independent auditor firm.

This is a first in the industry, as no other public pools are managed by a public company. To date, public pools have worked without this level of auditing for calculating hashrate contribution and accordingly the proportion of bitcoin to be paid out to pool members. Terra Pool not only focuses on ESG-driven Bitcoin mining but also works with miners who want to reduce their carbon footprint through Terra Pool's network of providers who can develop carbon reducing strategies.

This will allow miners to associate themselves with like-minded Bitcoin miners who are able to showcase their commitment to decarbonizing Bitcoin mining.