A Canadian entrepreneur invests in hydroelectric cryptocurrency mining

Kevin O’Leary declared that bitcoin mining is going to save the world

09.04.2022 - 11:00

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1 min

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What’s new? The Canadian entrepreneur and the star of the TV show Shark Tank has stated that green bitcoin mining could “save the world.” The entrepreneur hopes that bitcoin mining will become more stable and environmentally friendly in the future. He said in an interview for Fortune that the renewable resources of hydroelectric power plants and nuclear power plants will become the main sources of energy for mining.

Fortune’s material

What else did O’Leary add? The entrepreneur plans to invest in the infrastructure of nuclear and hydroelectric power plants. He argues that such enterprises can provide additional electricity to neighboring communities.

O’Leary understands that some localities may not want to install bitcoin mining plants on their territory. However, he stressed that he has already invested in hydropower mining and plans to continue to do so.

What had happened before? Tesla, Block, and Blockstream started building a cryptocurrency mining data center using renewable solar energy.

In 2019, O’Leary criticized bitcoin and called it “rubbish,” but his stance has since changed completely. In August 2021, he became an official spokesperson for the FTX crypto exchange. According to the contract, the businessman receives regular payments in bitcoins.

Author:

Vasiliy Smirnov Vasiliy Smirnov

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