Shark Tank Star shared his point of view on Bitcoin mining-related environmental issues and noted how the crypto mining companies could shift from traditional methods to better modern ways to collect power for Bitcoin mining operations.
Kevin O’Leary is a Shark Tank star and also he is popularly known as “Mr. Wonderful”. Kevin is himself a businessman and investor in almost every sector including crypto. He is one of the richest people in the world. Right now his net worth is $400 million. For a few years, Kevin actively did analysis on good crypto projects and assets to invest in.
Recently Kevin appeared in an interview with Coindesk TV’s “First Mover” show to support Bitcoin mining despite huge environmental issues caused by the Bitcoin network.
In the past, Kevin criticized Bitcoin and crypto mining operations because of huge environmental issues, and also at that time, he suggested to all the crypto mining firms to shift crypto mining operations to renewable and green sources to make the situation ideal for the earth.
Now Kevin suggested for the crypto mining firms consider going with hydro and nuclear Power-based mixed energies to complete the mining operations needs. He considered that many such types of sources already entered in Texas, Oklahoma, upstate New York, and the Pacific Northwest.
In full support of Bitcoin, Kevin asserted that the use of renewable energy sources to mine bitcoin will make the Bitcoin clean and better for the people and investors to adopt.
“the energy-intensive proof-of-work algorithm used to mine bitcoin could drive wider adoption of green energy….(..)..could bring capital to work there, build data centers for all sectors of the economy.”
Shark Tank star also noted that the majority of the crypto mining companies are very confident with their operations because right now they are under regulatory approval to do such operations.
“The old ways of mining, ignoring politicians, policymakers, government, the SEC (Securities and Exchange Commission) are over,
Don’t miss a thing, sign up for our newsletter