Green Investments Help Bitcoin Miners Amid Possible Regulatory Crackdown

[Cz Rock]

Regulators have been moving into multiple areas of the crypto industry, and they will – in one way or another – come after crypto mining powered by non-renewables, according to two miners that talked with Cryptonews.com.

However, as the concerns, facts, and misinformation over Bitcoin (BTC)’s carbon footprint have reemerged during this cycle, mining companies that have been moving towards cleaner energy sources seem to be more prepared ahead of possible new mining-related regulations.

Igor Runets, CEO and Founder of BitRiver, a major provider of colocation services for cryptocurrency mining in Russia, and the CIS, noted that countries across the world are already moving towards carbon neutrality, so it’s to be expected that there’ll be regulations discouraging non-renewable powered crypto mining, directly or indirectly.

As for Greenidge Generation, a US-based vertically integrated BTC mining and power generation facility, Chief Financial Officer (CFO) Tim Rainey said that the company will continue working with regulatory agencies and government at all levels, given that they all share a goal – an environmentally-sound, economically-vital operation.

As a power producer, “Greenidge is one of very few cryptocurrency mining companies with extensive experience” working with regulators on this matter, Rainey said, adding that “by design, the Bitcoin mining algorithm forces all miners to pursue best efficiency in energy use.”

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