Cryptocurrency mining firm Argo Blockchain reportedly disclosed a newly achieved milestone in its climate plan, underscoring the center point environmental sustainability plays in its focus. 

Specifically, the firm reportedly revealed that its crypto operations have achieved the “climate positive” status, for Scope 1, 2, and 3 greenhouse gas emissions.

Per data from Carbon Trust, an international advocacy organization dedicated to environmental sustainability, Scope 1 emissions are direct emissions from sources in the possession or supervision of a firm. Scope 2 will include indirect emissions via the purchase of electricity, while Scope 3 will cover every remaining indirect form of emission, which takes place in a firm’s value chain.

Argo reportedly has a goal of achieving carbon neutrality, with further strategy to exceed that milestone, via “mitigating emissions through support of projects outside of Argo”. 

As included within the scope of its Climate Positive Strategy, Argo reportedly turned itself into a signatory to the Crypto Climate Accord and the United Nations Framework Convention on Climate Change.

Regarding the definition of a “climate positive” miner, an Argo representative reportedly disclosed that the firm keeps a close tab on its emissions, and will carry out different moves to mitigate them.

Said moves reportedly include acquiring more verified emission reductions (VERs) for its Tennessee-based forestry initiative, as well as the China-based energy efficiency initiative. The firm has completed the acquisition of more than 30,000 metric tons of carbon dioxide-equivalent VERs for these and other projects.

“Argo is in the process of developing its Helios site in West Texas, planned to commence operation in 2022. It will include 200 MW of electricity consumption coming mostly from renewable power.”