PEGA Pool is set to open its doors to the public in the first quarter of 2023. The UK-based mining pool aspires to be a game-changer in the industry, providing a green seal of approval for crypto mining worldwide, with its innovative methodology and approach.
Bitcoin mining has a reputation for being energy intensive in combination with heavy use of fossil fuels.
After more than a year of research and development, PEGA Pool is in a unique position to capitalize on industry tailwinds with its new offering. Ranked as the 12th largest Bitcoin mining pool in the world, PEGA Pool is currently in the pre-launch phase and customers can join the waitlist until launch in the next quarter. Early risers will benefit from a permanent 50% discount on pool fees, which will help them reduce their long-term operating costs. Additionally, beta testers are entitled to a 0% pool fee during the early stages of the beta phase, and a 0.5% pool fee will be applied after launch.
That said, PEGA Pool’s competitive revenue model also rewards miners who use renewable energy sources with a 50% reduction in pool fees.
Bitcoin is infamous for wasting enough electricity
Crypto-mining activity consumes a lot of energy, as permissionless blockchains rely on proof-of-work to process transactions and provide network security. Besides its environmental impact, energy is the main cost of operating miners, and competition is fierce to find the cheapest energy sources.
But since these steps alone will not be enough to ensure that Bitcoin mining is 100% renewable and carbon neutral, PEGA Pool will continue to accept clients who use non-renewable energy sources. There is a catch, however. PEGA Pool will use a portion of its pool fees to help offset its clients’ mining carbon footprint by planting trees. More than 35,000 trees have already been planted by PEGA Pool for an annual CO2 compensation estimated at 934T.
The mining sector is suffering
PEGA Pool’s highly efficient and streamlined operation is built on a large scale, making its solution a more attractive option than self-operating.
PEGA Pool’s infrastructure is highly resilient to mitigate the risk of traditional equipment failures, including those caused by natural disasters. Their integrated performance monitoring and repair system is operational 24 hours a day, 7 days a week, 365 days a year – and 366 in leap years.
From a cost-benefit perspective, PEGA Pool has come up with an elegant solution that completely changes the blockchain mining model.
This unique approach has become even more pressing as Bitcoin miners see their profit margins shrink while the broader crypto industry continues to struggle. With an extended crypto winter, it is possible to tell how much trouble miners are currently facing. Specifically, Bitcoin’s mining revenue potential, defined as its hash price, has fallen by more than two-thirds from its peak last year.
As the profitability of Bitcoin mining declines, PEGA Pool emerges to allow miners to benefit from reduced pool fees that can make all the difference. In particular, the bear market could be less difficult for miners who are not overleveraged and those with lower operating costs in the form of higher energy or hosting.
PEGA Pool is set to open its doors to the public in the first quarter of 2023. The UK-based mining pool aspires to be a game-changer in the industry, providing a green seal of approval for crypto mining worldwide, with its innovative methodology and approach.
Bitcoin mining has a reputation for being energy intensive in combination with heavy use of fossil fuels.
After more than a year of research and development, PEGA Pool is in a unique position to capitalize on industry tailwinds with its new offering. Ranked as the 12th largest Bitcoin mining pool in the world, PEGA Pool is currently in the pre-launch phase and customers can join the waitlist until launch in the next quarter. Early risers will benefit from a permanent 50% discount on pool fees, which will help them reduce their long-term operating costs. Additionally, beta testers are entitled to a 0% pool fee during the early stages of the beta phase, and a 0.5% pool fee will be applied after launch.
That said, PEGA Pool’s competitive revenue model also rewards miners who use renewable energy sources with a 50% reduction in pool fees.
Bitcoin is infamous for wasting enough electricity
Crypto-mining activity consumes a lot of energy, as permissionless blockchains rely on proof-of-work to process transactions and provide network security. Besides its environmental impact, energy is the main cost of operating miners, and competition is fierce to find the cheapest energy sources.
But since these steps alone will not be enough to ensure that Bitcoin mining is 100% renewable and carbon neutral, PEGA Pool will continue to accept clients who use non-renewable energy sources. There is a catch, however. PEGA Pool will use a portion of its pool fees to help offset its clients’ mining carbon footprint by planting trees. More than 35,000 trees have already been planted by PEGA Pool for an annual CO2 compensation estimated at 934T.
The mining sector is suffering
PEGA Pool’s highly efficient and streamlined operation is built on a large scale, making its solution a more attractive option than self-operating.
PEGA Pool’s infrastructure is highly resilient to mitigate the risk of traditional equipment failures, including those caused by natural disasters. Their integrated performance monitoring and repair system is operational 24 hours a day, 7 days a week, 365 days a year – and 366 in leap years.
From a cost-benefit perspective, PEGA Pool has come up with an elegant solution that completely changes the blockchain mining model.
This unique approach has become even more pressing as Bitcoin miners see their profit margins shrink while the broader crypto industry continues to struggle. With an extended crypto winter, it is possible to tell how much trouble miners are currently facing. Specifically, Bitcoin’s mining revenue potential, defined as its hash price, has fallen by more than two-thirds from its peak last year.
As the profitability of Bitcoin mining declines, PEGA Pool emerges to allow miners to benefit from reduced pool fees that can make all the difference. In particular, the bear market could be less difficult for miners who are not overleveraged and those with lower operating costs in the form of higher energy or hosting.