The assertion that Bitcoin’s heavy energy requirements are harmful for the environment has been rebutted by Cathie Wood. The ARK Invest founder and CEO suggests that cryptocurrency mining may actually accelerate the development of clean energy technology.
Technology that Fuels Renewable Energy
Research conducted by Wood in conjunction with ARK research director Brett Winton, and co-authors Yassine Elmandjra and Sam Korus presents a different point of view on the commonly held criticism that Bitcoin mining is environmentally damaging.
“Instead,” stated Wood, “as crypto mining, energy storage, and AI technologies converge, the adoption of renewable energy is likely to accelerate.” Their findings support that cryptocurrency mining is driving investments in solar power, making more renewable energy available to the grid.
The researchers wrote in their article, “A world with bitcoin is a world that, at equilibrium, generates more electricity from renewable carbon-free sources.” This analysis brings encouragement amongst worries that environmental concerns would limit broader societal embrace of Bitcoin, whose power consumption has increased by a multiplier of 66 since 2015.
Bitcoin as a Facet of Mainstream Business
In a panel discussion, Wood claimed that she expects Bitcoin’s market value to surpass its recent milestone of $1 trillion by a significant amount. Square Inc., a collaborator on the research, has also heavily invested in Bitcoin. The company has described digital currency as an increasingly important facet of their business, especially with use of their Cash App for Bitcoin transactions.
With increasing public support for Bitcoin mining and its potential positive effects in relation to green energy, a prime opportunity presents itself to invest in the Bitcoin and cryptocurrency mining market. A supply shortage of crypto mining equipment, paired with an increase in equipment demand, is turning keen customers toward established companies such as Wattum Management. At Wattum, we offer comprehensive cryptocurrency offerings that suit data hosting centers and individual Bitcoin miners alike in obtaining competitively priced equipment and services.
A Full Circle Investment
The public endorsements by trusted entities in this rapidly developing industry are highly indicative of the impact BItcoin has not only presently, but will continue to have.
Endorsements and the steady entry of Bitcoin into the mainstream payment market are a sure reflection of cryptocurrency’s acceptance, which has significant implications for the digital coin and those that have engaged in the opportunity to invest both in the currency, as well as the equipment to mine it. Mining Bitcoin allows you to purchase the coin for smaller monthly increments as mining equipment is typically priced at a 12-month payoff from the current Bitcoin price. At the price of a miner, these increments would sit under $10,000, as opposed to a direct market purchase of Bitcoin.
Bitcoin mining allows you to make a full return on your investment and is depreciable on tax returns, both saving and earning you money. Based on these advancements, Wattum predicts a further increase in demand for crypto mining equipment amidst the ongoing shortages as the value of such lucrative investments gains further recognition.
Wattum Management, as a reputable Bitcoin mining farm management firm, provides an expansive selection of both new and used equipment, in addition to expert hosting and management services. Wattum also offers escrow payments, financing options, and mining pool opportunities, taking charge in this monumental industry and ensuring secure investments for those looking to maximize this opportunity.