Bogosphere: The Strangest Things Pulled Out of Peat Bogs. Don't miss the reference to bog butter.
Sphagnum moss doesn't just live in acidic, nutrient-poor and anoxic environments it creates acidic, nutrient-poor and anoxic environments thereby shutting out its competitors. From How Sphagnum bogs down other plants, Trends in Ecology and Evolution, 10 270-275:
Recent research on the organo-chemical composition of Sphagnum
and on the fate of its litter has further clarified how this plant
builds acidic, nutrient-poor, cold and anoxic peat bogs. The bog
environment helps Sphagnum to outcompete other plants for
light. Its morphology, anatomy, physiology and composition make it an
effective ecosystem engineer and at the same time benefit the plant in
the short term. This may have facilitated the evolution of the genus.