Shark Tank’s Kevin O’Leary Says, Green Bitcoin Mining Could “Save the World”
The first Bitcoin was mined back in 2009 and took relatively little energy to accomplish. But as competition for rewards has grown, and BTC has undergone three halving’s, the energy consumption now needed to mine a single coin has grown astronomically.
Because of the high energy usage of Bitcoin miners, many critics have noted how the industry’s carbon footprint has grown to that of entire nations.
In fact, according to Digiconomist, Bitcoin miners are responsible for 37 megatons of CO2 emitted into the atmosphere every year, roughly equivalent to the entire economy of New Zealand.
According to Kevin O’Leary, chairman of O’Shares and Shark Tank veteran, “The next generation of bitcoin miners and software represented right here are starting to work with energy that does not require carbon.”
As miners seek carbon neutral energy sources, O’Leary says Bitcoin mining could “save the world.”
Alonzo Pierce, chairman and founder of BlockQuarry (BLQC), a publicly traded Bitcoin mine and mine hosting company said, “Mr. O’Leary is absolutely right. As more miners realize the benefits of carbon-neutral mining, not only will we be able to change the world, but we could make it a greener, cleaner place…
“Our company, BlockQuarry, mines Bitcoin using better than carbon-neutral energy. We actually mine Bitcoin at carbon zero. All of our mine hosting operations are powered from 100% renewable, clean, and carbon free nuclear energy.”
Mr. Pierce also noted how BlockQuarry could soon become carbon negative. The company has plans to examine a tree-planting initiative to further reduce carbon in the atmosphere.
A carbon reduction initiative could place BlockQuarry among a group of the first Bitcoin mine hosting companies to have a positive effect on the environment, rather than a neutral, or negative one.
Could green bitcoin mining save the world, as “Mr. Wonderful” says?
Read more of Kevin O’Leary’s comments on Bitcoin, HERE