Vancouver, British Columbia–(Newsfile Corp. – June 22, 2022) – Ocean Falls Blockchain Corp. (“OFB” or the “Company”) is excited to announce it is now a member of Terra Pool, an invitation-only crypto-mining pool for clean energy-powered mining farms.
Terra Pool, coined the World’s First Green Bitcoin Mining Pool, was established in March 2021 as a joint effort between the U.K.-based cryptocurrency mining company, Argo Blockchain, and DMG Blockchain, a Canadian blockchain technology company.
Terra Pool accepts cryptocurrency miners that produce Bitcoin in a sustainable and climate-conscious way, with the initiative’s goal to significantly reduce greenhouse gas emissions over the next decade.
“The environmental impact of Bitcoin and other crypto-mining enterprises has long been viewed as a flaw and detriment to the sustainability of decentralized networks. OFB is, therefore, a proud supplier of clean energy-powered mining and we are honoured to be a part of the Terra Pool initiative,” said Oded Orgil, CEO at OFB.
The two key requirements to becoming a member of Terra Pool are that a miner shares at least 50 percent of its green hash rate and that the Company maintains at least 10 petahash per second in the pool.
In an official statement last year, Terra Pool said that its aim is to, “expedite the shift from conventional power to clean energy and reduce the impact of Bitcoin mining on the environment.”
Ocean Falls operates a clean energy-powered mining facility in Ocean Falls, British Columbia. By next year, the Company plans to expand operations to West Coast Marine Terminals, another renewable energy power source located in a protected inlet on the west coast of Vancouver Island. The potential partnership enables OFB to increase its clean energy mining capacity to up to 85 megawatts by the end of 2024.
About Ocean Falls Blockchain
Ocean Falls is a Canadian blockchain technology company that operates a 2MW-plus, clean energy-powered cryptocurrency mining farm in historic Ocean Falls, B.C. Ocean Falls is also creating a new sustainable solution for the captive insurance industry. Visit oceanfalls.com for more information.
For further information, please contact:
Chief Executive Officer of OFB
This news release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws. These statements are based upon information currently available to OFB’s management. All information that is not clearly historical in nature may constitute forward-looking statements. In some cases, forward-looking statements may be identified by the use of terms such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will”, “would”, and “should”. Forward-looking statements contained in this news release are based on certain factors and assumptions made by the management of OFB based on their current expectations,…