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In the interview to U.Today published recently, prominent trader and Bitcoin permabull Max Keiser stated that all the allegations regarding Bitcoin mining damaging the environment are false.
Many Bitcoin critics say that Bitcoin mining consumes a great amount of electricity, thus harming the environment.
Unlike them, Max Keiser reckons that BTC mining is actually quite environment-friendly since miners prefer to work in the regions with the lowest prices on power or where they can get significant discounts on it.
This was the case in 2019, when over fifty percent of the Bitcoin hashrate was provided by miners in the Sichuan province of China. That was due to the cold climate, low power tariffs due to the rich hydropower resources and the encouragement of the local authorities to set up mining businesses last year.
In a recent video on his YouTube channel, investment guru Robert Kiyosaki stated that countries which are currently suffering from the sanctions imposed by the US – Venezuela, Iran and Iraq – are likely to use Bitcoin to avoid the impact of those economic restrictions.
The ‘Rich Dad, Poor Dad’ author believes that these countries are going to start mining Bitcoin cheap, since they have a lot of oil.
Related to that, recently, a Turkish firm iMiner has won a license to start operating in Iran.
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Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at email@example.com.