At some point in the future, mining for Bitcoin is going to look like a utility and possibly the one every country out there is going to want to have a piece of, and it is possible that it might end up becoming critical infrastructure for nations according to the CEO of the digital foundry. At present, the mining conditions are not that great as it is creating a lot of carbon footprint and damage that is done to the earth’s infrastructure is unbearable, but it is a necessary evil, and for that matter, some clean and green mining initiative is underway. The energy companies out there, according to Mike, do see the economic potential mining Bitcoin presents itself with. This means that there might be a change of structuring in terms of capital and operations not far from now.
It might not happen in a few years or could take a few decades but given such change of thought and bringing of a positive initiative before the world is going to help build the world’s energy mostly from the renewable resources. This will fuel the mining process for cryptocurrency, which won’t be leaving any footprint of any kind but, at the same time, is going to power and fulfil the world’s energy requirements.
Clean and Renewable Energy Production Initiative and Crypto Mining
There are a lot of other things taking place side by side with this new initiative which is not being worked on at the moment, such as lawmakers in Kentucky pursuing tax breaks for the local crypto miners. Other than that, the mining company in New York regarding Bitcoin operates a power plant that only runs when there is a high demand for mining in effect, and the extra juice is being asked for.
According to the CEO of that company, if a renewable energy production initiative that could fuel the energy requirements of the nations and provide clean energy to fuel the Bitcoin mining is ever going to happen, then it is at least a 10-20 year journey which they are willing to undertake. Think of the world around you as pure and free from pollution while all the past events such as mining which used to be a problem regarding carbon footprint thriving at the same speed. That would most definitely be a sight to witness.