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Crypto Sustainability

Sustainability in Crypto mining and how it can change the course of cryptocurrency

  • Dean Fankhauser
    By
  • Posted
  • Read Time1 minutes

The shark sometimes sarcastically called Mr Wonderful, Kevin O’Leary,  gave his too scents about cryptocurrency, assuring that if miners can sustainability. They will be able to attract more institutional clients, as well as boost prices. The investor spoke about crypto during Consensus 2021, insisting that corporations are reluctant to embrace cryptocurrencies until all environmental, social and governmental concerns are solved. Currently, less than 1% of institutions carry crypto as an asset class. If they want to change this, O’Leary believes that miners should prove their coins are created sustainably.

CoinBase also decided to discuss the issue of crypto sustainability, with a fact check article. Although Cryptocurrency is mined with energy, does this mean that mining crypto is environmentally unfriendly? Not according to CoinBase. As miners are incentivized to use the cheapest energy source possible, excess energy or sustainable energy tends to be used. Additionally, around 75% of miners already use renewable energy as part of their energy mix.

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