Bitcoin Will Survive ESG Concerns, Says Sustainable Bitcoin Miner

2021-6-1 20:40

Sustainable bitcoin (BTC) miner Iris Energy Pty is confident bitcoin will survive the current scrutiny it is enduring due to environmental concerns.

Australia-based Iris Energy Pty uses renewable energy to power its bitcoin mining operations. According to CEO Daniel Roberts, the massive liquidity bitcoin has seen validates it as a use case. He says this is also the case for the energy-intensive proof-of-work mechanism that bitcoin utilizes to produce the coins and verify transactions.

“It plays a valuable role,” Roberts said. “I don’t think it’s up to any individual to decide where energy should be used. It’s a market-based decision where bitcoin, by virtue of the attraction and adoption it’s gained, is commanding that level of energy to secure it, to secure people’s savings.”

Bitcoin’s recent ESG concerns

The massive amount of energy that bitcoin uses has come to the fore in the public’s mind, recently. This is largely thanks to Tesla CEO Elon Musk, who said the company would no longer accept bitcoin as payment. This then apparently triggered bitcoin’s recent downfall from its April peak around $65,000, to below $30,000 at one point recently.

This move single-handedly brought environmental, social, and corporate governance (ESG) front and center to debate surrounding cryptocurrency adoption. Although many shared Musk’s environmental concerns, others noted that other aspects of the financial industry are far more polluting. Musk himself said this debate could be better understood if cryptocurrency miners audited their energy usage.

To this end, Musk participated in a recent discussion by North America’s top crypto miners hosted by MicroStrategy CEO Michael Saylor. During the summit, the attendees decided to form a Bitcoin Mining Council to promote energy usage transparency and standardize reporting.

Iris Energy plans

Meanwhile, Iris Energy itself has plans for a number of projects including data centers and infrastructure. According to Roberts, the company is continuing to “explore options for SPACs” to help fund those ambitions.

Several special purpose acquisition companies (SPACs) have approached the firm, which would make it one of the first Australian companies to benefit from them. SPACs are shell companies, which sell shares to list on public stock exchanges to seek and acquire private businesses. A potential U.S. listing for the Sydney-based firm could raise $300 million to $500 million.

The post Bitcoin Will Survive ESG Concerns, Says Sustainable Bitcoin Miner appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 97925.45 (-0.48%)
Объем 24H $46.027b
Изменеия 24h: 4.14 %, 7d: -6.88 %
Cегодня L: $97925.45 - H: $98706.68
Капитализация $1938.996b Rank 1
Цена в час новости $ 36975.06 (164.84%)

bitcoin miner concerns sustainable survive esg says

Источник: beincrypto.com

bitcoin miner → Результатов: 126


Фото:

Bitcoin Miner Revenue From Fees Explodes: What’s Driving This?

On-chain data shows the Bitcoin miner revenue percentage from the fees has exploded recently. Here’s what’s behind this sharp growth. Bitcoin Runes Have Caused A Sudden Shake-Up In Miner Revenues A couple of days ago, the much-anticipated fourth Halving, a periodic event taking place roughly every four years where block rewards that miners receive for […]

2024-4-23 19:00


Solo Bitcoin Miner Snags $200,000 Block Reward, How Did They Do It?

A solo Bitcoin miner has struck gold after successfully claiming a $200,000 block reward. The considerable achievement has captured the attention of fellow miners and crypto enthusiasts, highlighting the potential for lone miners to effectively compete with larger mining operations  Lone Bitcoin Miner Hits Jackpot On October 28, a software engineer of Bitcoin CGMiner and an admin of Solo Ckpool, Dr.

2023-10-31 22:00


Bitcoin Miner Selling Power At Lowest For 2022, Green Sign For Market?

On-chain data shows the Bitcoin miner selling power is at its lowest for the year, something that could be favorable for the price of the crypto. Bitcoin Miner Selling Power Has Been Going Down In Recent Weeks As pointed out by an analyst in a CryptoQuant post, the metric has observed surges in its value a few times this year, and each time the BTC price has gone down.

2022-11-2 22:00


Фото:

Research Attempts to Unravel Claims of Satoshi Nakamoto Owning a Million Bitcoin

On August 20, 2018, Bitcoin Mercantile Exchange (BitMEX) published research on a quintessential question bounced around since Bitcoin’s introduction in 2009: Does Satoshi Nakamoto own a million bitcoins? A Million or not a Million BitMEX based its study on Sergio Demian Lerner’s 2013 analysis, where the developer uncovered mined Bitcoin blocks can be traced back to their miner, proving the.

2018-8-21 20:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bank of England leaves rates unchanged amid rising inflation

The BoE's decision to hold rates amid rising inflation may signal prolonged economic caution, impacting consumer spending and market stability. The post Bank of England leaves rates unchanged amid rising inflation appeared first on Crypto Briefing.