Investor Kevin O’Leary Warns Bitcoin Miners…Here’s Why!
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Answer Investor Kevin O’Leary Warns Bitcoin Miners…Here’s Why!
Investor Kevin O’Leary and star of ABC’s Shark Tank have issued a warning that ESG reports will rock the Bitcoin mining industry.
While many major players are currently focused on bitcoin’s price performance, O’Leary is more concerned about the risks that the bitcoin mining industry can pose.
During a recent interview, O’Leary stated that bitcoin mining companies that did not get their energy from non-carbon sources have no chance of passing a carbon audit.
This is because the process of tracking carbon credits has become more rigorous.
Kevin O’Leary: Environmental damage is no longer a joke.
Kevin O’Leary, also known as Mr. “Wonderful” and best known for hosting ABC’s “Shark Tank” reality show, has called on bitcoin miners that are using carbon credits to try to remain carbon neutral.Read:The US Securities and Exchange Commission (SEC) is postponing its consideration of…
Speaking in a recent interview, O’Leary warned that such miners are likely to have problems getting financing.
This is because most funders will shy away from them to keep up with ESG requirements that are rapidly gaining weight, and added, declaring:
The writing is on the wall for public bitcoin miners who think they can deceive investors by buying carbon credits to cover up their dirty ways and carbon burps.
They will never survive the next carbon audit.
He sees the use of carbon credits rather than actual green energy sources as one reason why bitcoin mining is bad, and that governments around the world are chasing the activity.
Since Tesla stopped accepting bitcoin due to its mining mechanism that harms the environment, according to their statement, many mining companies in the world are seeking to use hydro, wind and solar energy so that they do not face a problem in their activity.Read:Beware of this list of Google Chrome extensions that aim to steal cryptocurrency
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