TheStreet recently brought together an all-star panel of experts to discuss digital transformation, investment strategies and opportunities. And they identified crypto miners as a powerful opportunity and a good way to get involved in investing in crypto space.
The situation in digital currencies is volatile and constantly changing, but as FinTech grows, the number of miners grows and becomes behind Bitcoin, more billion-dollar companies will do so. There are signs that the positive momentum of cryptocurrencies may continue as they endanger their names and reputations. , Ethereum and other cryptocurrencies.
TheStreet’s panel included VanEck’s Managing Director and Head of ETF Products. (OUNZ)- Get the report Ed Lopez, CEO of New Construct, David Trainer, CFA, VanEck Product Manager, John Patrick Lee, Jim Cramer’s Action Alerts Plus Charitable Trust Zeb Fima
“I keep it in the ecosystem and lower it. I find miners and their business models particularly interesting. They mediate leftover carbon, partner with energy companies and regenerate. We have succeeded in finding an energy source because it makes up the bulk of their business, “says Lopez.
“Miners are flexible partners for energy companies and can pick up surplus electricity and developed surplus energy in the grid. They are mobile. They can travel around the world for the lowest price-eco. Given the growth and trends of the system, and the adoption of virtual currencies, I think miners are a really interesting and fascinating story, “Lopez added.
At a recent conference hosted by MicroStrategy (MSTR)- Get the report Tesla CEO Michael Sailor (TSLA)- Get the report Elon Musk called on large Bitcoin miners to be more transparent about their energy use. Musk spoke with Bitcoin miners in North America and reported on the use of renewable energy. And asked other mining companies to do the same, he said in a tweet.
As a result of the meeting, the group formed the Bitcoin Mining Council to work on mining Bitcoin in a cleaner and more transparent way in the future. According to Luke Conway of The Street..
Sailor Added The council says it will support “standardization of energy reporting, pursuit of ESG goals, market education and growth”.
“It’s difficult to accurately estimate where and how much cryptocurrency mining is taking place, but most of it is done by professional miners, especially when the amount of mining is tremendously increasing as before. We can only assume that they are contributing, “said CEO Jensen Huang. I told investors at a conference call last week.
Jim Cramer of TheStreet said in his daily newspaper: Overview of Action Alert Plus Nvidia has been doing well for the past week, Recent 1 to 4 stock split Not surprisingly, the link between cryptocurrency mining and Nvidia’s performance isn’t always that strong.
“I think people purely like to buy technology when cryptocurrencies are going well.” Kramer said..
Daniel Roberts, Editor-in-Chief of Cryptographic News Site Decrypt, explained in a recent interview with TheStreet. Why Bitcoin Mining Consumes a lot of electricity“NVIDIA and other companies said they didn’t like our rigs and chips being used for cryptocurrency mining, but I think that’s a little different,” he said.
“Bitcoin mining uses an expensive chip called an ASIC, which is why Bitcoin consumes so much power. When Ethereum moves to eIF2, which uses a proof of stake, the ASIC chip will You don’t need it anymore. That’s why you win. For a company like AMD, I don’t know what this means. (AMD)- Get the report And Nvidia wants to get involved in cryptocurrency mining in some way, form, or form. But that’s where things are going in the mining sector, “Roberts added.
Watch the full webinar hosted by VanEck To find out more about digital transformation:
One Overlooked Cryptocurrency Investing Opportunity Source link One Overlooked Cryptocurrency Investing Opportunity