Home
News
- So all of the money is discreetly migrating right now to new mining businesses, the majority of which are private, that will use hydro, wind, solar, and nuclear power since there is no carbon audit if you use any of those options for mining. There is no need for an offset. You’re not releasing carbon into the atmosphere.
- O’Leary claims to have invested in a mining facility in Norway, which he claims is backed by institutions due to its effective use of green energy.
- Institutional investors, according to the Shark Tank star, love the fact that by purchasing shares in these companies, they are indirectly holding coins that were ethically mined.
Environmental concerns over crypto mining, according to Shark Tank investor Kevin O’Leary, are prompting a flow of funding into a new part of the digital asset market. In a recent YouTube Q&A session, the celebrity investor claims that some mining corporations have begun purchasing carbon credits, but that this practice will not be sustainable in the long run.
Investors Are Instead Choosing To Invest In Mining Companies That Use Renewable Energy Sources
They began purchasing carbon credits as pressure mounted for ESG [environmental, social, and governance] regulations. That won’t work because, as I predicted earlier this year, large institutions will begin demanding carbon credit audits, and you don’t want to invest in a company stock that faces a carbon audit because the truth is, it’s nearly impossible to show and understand the tracking error of a carbon credit versus what you’re actually burning in carbon.
According to O’Leary, investors are instead choosing to invest in mining companies that use renewable energy sources. According to him, the investment strategy reduces the chance of being subjected to a carbon audit by regulators. So all of the money is discreetly migrating right now to new mining businesses, the majority of which are private, that will use hydro, wind, solar, and nuclear power since there is no carbon audit if you use any of those options for mining. There is no need for an offset. You’re not releasing carbon into the atmosphere.
O’Leary claims to have invested in a mining facility in Norway, which he claims is backed by institutions due to its effective use of green energy. Institutional investors, according to the Shark Tank star, love the fact that by purchasing shares in these companies, they are indirectly holding coins that were ethically mined.
Less Than Two Cents Per Kilowatt Hour For Electricity
We pay less than two cents per kilowatt-hour for electricity. Our stacks are situated in a distant location. We’re using the heat generated there for hydroponics and fish rookeries, and many of the villagers who live there are stakeholders in the mine.
The key to this situation is that the institutions backing it, some of which are sovereign wealth funds, ask me one question: ‘Are the coins awarded going to stay on this company’s balance sheet?’ Because we’ll be able to buy the stock with the knowledge that every coin was mined sustainably in accordance with an ESG mandate, and that’s how we want to own our Bitcoin. If you tell us you’re going to sell your coin, we’re not going to invest.’
ALSO READ: Investing Pensions in Yield Farming Crypto Funds
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
