Shark Tank investor Kevin O’Leary is reportedly planning to make big bets on sustainable Bitcoin (BTC) mining over the next 10 years.
O’Leary says that with concerns mounting over Bitcoin’s energy footprint, he sees opportunities to be capitalized on.
The TV personality tells Fortune that green Bitcoin mining will be one of his biggest investment opportunities and something he plans to look at with a decade-long time horizon.
O’Leary says that he’s anticipating increased adoption of the so-called “Norway model” where transmission lines from hydroelectric or nuclear sources power Bitcoin mining centers and potentially provide additional electricity for neighboring communities.
The Shark says that he has already invested in hydro-powered Bitcoin mining and has no plans of slowing down.
“I’m gonna spend the next 10 years doing this.”
The O’Shares Investments chairman says that regulation and the implementation of a proposal from the Securities and Exchange Commission (SEC) to require public companies to disclose their climate impact could lead to a more sustainable Bitcoin mining.
“Whether you agree with ESG [Environmental, Social, and Governance] mandates or whether you agree with what’s been proposed by the SEC, you can’t ignore it. You’ve got to deal with it. The way I’m dealing with it is with hydro and nuclear power.”
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Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia
