A lot has been said about the environmental impact of BTC mining, but is it all true? Is it really damaging? Cathie Wood’s ARK Investment Management LLC says that it could be the total opposite… that BTC mining can be beneficial for the environment.
So for the newcomers interested in mining their own BTC instead of opting to purchase Bitcoin , and all the crypto enthusiasts, this is for you.
What is the environmental impact of BTC mining?
According to some experts, the BTC price is not the only thing taking big swings. The environmental impact of BTC mining is also taking big swings in damaging our environment.
According to the latest research, BTC mining has been responsible to produce 36.95 megatons of CO2 per year . This fact alone is worrying, but is it really true?
Many of these attacks usually come from vegan communities, and it’s fair to say that veganism is not as environmentally friendly as it seems to be. Without animals, there is no manure for the soil, and hence, crops like soy are actually damaging the soil far more than animal farming. In any, regenerative farming could help our world much more than veganism could do for us.
This point is to understand that the current attacks at BTC based on its environmental impact tend to be biased, and as we have seen before, they are usually efforts to promote FUD in the market.
We have known that institutions and different characters have taken jabs at BTC in efforts to undermine, so it’s only wise to verify these claims, and this is why we are giving Cathie Wood a voice here, to explain her point about how BTC mining could be actually beneficial for the environment.
Why does Cathie Wood claim that BTC mining can be good for the environment?
According to her point , BTC mining could be directed towards using solar energy, which would create an important growth boost in the industry. She is not saying that BTC mining doesn’t cause CO2 emissions, but that the solution is in using other energy sources.
Unlike usual attacks, she’s actually proposing a solution, instead of inviting everyone to shut down BTC and cryptocurrencies. Cryptocurrencies are here to stay, and all we can do is to innovate to create solutions that will make mining eco-friendly, and in this case, actually helpful.
Furthermore, Wood’s ARK has been widely involved in cryptocurrency stocks for years. Hence, she’s a declared crypto enthusiast, and this brings a new light to the environmental issue of BTC mining and actual solutions for a better world.
By using one of the most active industries right now, we could boost solar energy adoption, and hence, make it a real source of energy for our cities. If it works for BTC mining, then it could work for all sorts of industries that would benefit us all. Imagine a world that runs on solar energy thanks to BTC mining!
It could spark innovation
To make solar energy work for BTC mining, we would need very specific technology developments. Therefore, this could translate into better solar energy equipment that, in return, would make this energy source more versatile and efficient for other industries.
Therefore, instead of fighting BTC and cryptocurrencies, it’s better to take it this way. We can use it to fuel a real revolution in the renewable energy industry that will help our plant much more than the current solutions.
However, we are still at the beginning because we don’t have clear advances in this type of solution for BTC mining. Nonetheless, we expect that more projects will focus on delivering the technology necessary to bring this proposal to fruition.
It could make BTC mining more profitable
For miners, using solar energy in a more efficient way could be an excellent way to boost their profits, especially during a bearish market. Electricity is a huge expense, especially when you run a big BTC mining farm.
Imagine not having to pay for electricity any longer. Sure, investing in advanced solar energy equipment could end up being very expensive, but it’d be a one-time investment. Then, you could use as much solar energy as needed to fuel your mining business.
As you can see, BTC mining can be used to help the environment. We only need to direct our efforts towards using renewable energies. What we can do is start spreading these alternatives to spark innovation, and hopefully, motivate the right people to deliver the solutions we need right now.
What do you think about using solar energy for BTC mining? Does it sound like a doable idea for you? Let us know in the comments, especially if you are a BTC miner!