- December 4, 2021
- |Bitcoin, Crypto News, Government
Bitcoin mining has environmentalists very concerned about the energy it consumes. But the crypto community has responded positively to those concerns, and innovative Bitcoin mining is becoming more creative as it goes. Of course, nuclear, hydro, and solar power have always been natural power sources since the beginning of time. Still, it’s how we harness these solutions that calm the activists’ fears.
Don’t get it twisted! Bitcoin is as attractive as it ever was. So when crypto takes a dip, investors flock to buy it. That’s because they know those dips won’t last long, and they have all the confidence in the world that Bitcoin is a solid investment. But, equally, when it’s on the rise, all the world experts start tooting their horns because they were right all along.
That’s why the Bitcoin mining operation known as TeraWulf is making headlines today. They have raised $200 million from investors to go hard on its innovative Bitcoin mining operation. CEO Paul Prager is excited about their ability and their direction.
“TeraWulf’s ability to raise private capital underscores the attractiveness of bringing a new paradigm for cryptocurrency mining to the public markets.”
Hydropower is one of the oldest clean and free energy sources that utilizes natural water flow to generate electricity. Evidence suggests that it dates back to ancient Greek civilizations, but if you’ve ever seen a wheel on the side of a house spinning to the flow of a river, you’re aware that hydropower has existed. But don’t think that it looks like that today.
The use of water to generate electricity is a little more sophisticated these days, but clean and free nonetheless. Environmentalists really can’t argue against that. In addition, TeraWulf is using solar power and nuclear power for its operation. These solutions are just as clean and renewable, just a little more complex to explain.
Bitcoin mining operations listening to the activists’ concerns shows how vital crypto is throughout the world. Even the U.S. understands that even if they are sending mixed signals. A year ago, the U.S. seized digital currency used to fund illegal activities. The marketplace was called Silk Road, and Americans now benefit from the seizure of $1 billion in Bitcoin. That’s how much it was worth then. It’s worth nearly $3 billion today.
$3 billion! It tripled in a year. And there are still naysayers out there.
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