PEGA Pool, a mining pool that enables ASIC miners to collaborate in bitcoin mining, is set to become publically available during the first quarter of 2023. The pre-launch phase of this mining pool is currently in progress.
KEY FINDINGS
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PEGA Pool is a bitcoin mining pool.
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ASIC miners have the ability to connect to this pool and collaborate in bitcoin mining.
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PEGA Pool is currently in pre-launch, the site will be available to the public in Q1 2023.
Those interested in mining bitcoin using the pool can sign up to their early access waiting list. At the moment, bitcoin miners with PEGA are the only ones who are Beta testers and PEGA is a sister firm to the pool.
PEGA Pool Features
PEGA Pool stands out due to its uniqueness as a British-owned and operated pool in an era when most mining pools were Chinese. This makes it more attractive to customers in Western nations who would not use Chinese pools if it wasn’t so limited.
The primary aim of PEGA Pool is to reduce its carbon footprint in bitcoin mining and create a more sustainable and green industry.
The pool is now open to everyone. No matter what power source, mining clients are always welcome. Those who use renewable energy will be rewarded with 50% less in pool fees, while those who use non-renewable energy sources will have to pay higher fees for tree planting to offset their carbon footprint.
Non-renewable energy users pay 2% and renewable energy users pay 1%. Customers who sign up for the “Early Access” will enjoy a permanent 50% reduction in group rates, while those participating in the Beta will pay 0% pool fee during the test period. After launch, the pool fee will be 0.5%.
To distribute mining rewards to clients, the pool will be using a competitive PPS+ revenue system.
Renewable Energy in Bitcoin Mining
This year, bitcoin mining has come under harsh criticism by the media due to its negative impact on the environment from the large amount of fossil fuels miners have to burn to power their operations. As a result, countries such as China have banned bitcoin mining.
Tesla also stopped accepting bitcoin payments shortly after announcing they were doing so. The decision was made after Elon Musk highlighted the use of fossil fuels. Resuming bitcoin payments is one of the conditions Tesla has set, that bitcoin switches to renewable energy sources.
Miner have a lot to gain from this initiative, which seeks to make the mining sector more sustainable and green by motivating the use of renewable energy sources. It also penalizes those who do not use renewable energy.
Bitcoin Miners Close to Breakeven
As the remaining 21 million bitcoins are mined, bitcoin mining difficulty keeps rising. In combination with the decreasing value of BTC, this has put pressure on miners all over the world.
PEGA Pool provides miners with an outlet due to its low pool fees. Bitcoin mining pools all over the globe are now becoming more attractive to customers.
