There have been multiple beneficiaries of the Bitcoin price hike. The recent surge in the price of Bitcoin (BTC) has certainly increased the demand for Bitcoin. As a result, miners are mining Bitcoins at a rapid pace. As the result of this surge in Bitcoin, the energy sector across the globe has emerged as the biggest beneficiary.
Some countries are even skeptical that this recent surge in Bitcoin mining might cause an energy crisis in respective countries. However, on the other hand, Bitcoin miners are also assessing their options about making sure that they have enough energy supply for future mining activities. The latest news has confirmed that Bitcoin miners in various countries are eyeing Nuclear Power in order to fulfill their energy requirements.
As Nuclear energy is totally renewable and enough to fulfill Bitcoin mining requirements so there is no criticism from society as well. The reason that Bitcoin miners are interested in Nuclear Energy is that its environmentally friendly and people would not accuse mining as hazardous activity towards the natural environment.
However, there have been some massive players including top cryptocurrency companies who already said that nuclear energy is the best possible option available for the Bitcoin miners. On top of that, these major players have already given approval to this approach. Nuclear energy is an enormous source of totally clean and renewable energy with no hazardous impacts.
In a recent Bitcoin & Beyond Bitcoin Summit, the CEO of GRIID Energy said that Nuclear energy is the future of the power sector. GRIID is a U.S based energy sector business organization, with a focus on providing green energy at cheaper rates. The firm has announced its support to build vertically-integrated Bitcoin mining facilities. The goal is to use solar and wind power to further foster Bitcoin mining across the globe.
However, there has been another part of the picture. There are some voices that say current plans from GRIDD are just to make sure that the company develops its vertical business line as it eyeing to enter the crypto business.
As of this writing, countries such as Russia and U.S are already using solar energy to support the Bitcoin mining activities in various regions of their territories. However, the inclusion of Solar energy would change the future dynamics of the whole crypto mining market. The only way forward to fulfill the market demand is going for solar.
Last month, the Bitcoin Mining Council (BMC) surveyed around 33% of the current global Bitcoin network. As of this mining, almost 35% of the world’s mining companies are using renewable energy sources for their production. These numbers would be increasing in near future. Bitcoin miners have already given the green signal about that move.