Nasdaq Listed Technology Firm Announces Bitcoin and Ether Mining Plans
Powerbridge Technologies Co ., a Nasdaq-listed technology firm that offers SaaS solutions and blockchain applications announced it would invest and engage in Bitcoin and ETHer mining globally. The mining operations will be environmental focused as the firm plans to mine BTC and ETH using clean energy. It has also assembled a team of crypto veterans to support the development of its crypto business.
Powerbridge plans to establish a network of clean energy mining facilities across the globe as the company has a positive outlook on the crypto market. The firm also believes its crypto-mining operation could fuel the overall growth of the company.
Stewart Lor, President, and Chief Financial Officer of the firm said,
We are optimistic about the positive outlook of the cryptocurrency market. Our initiative to engage in crypto mining is an important part of our overall blockchain strategy. We strive to continually build clean energy-based BTC and ETH mining networks globally. We believe our crypto mining business will generate valuable digital assets that help accelerate the Companys growth.
The Rising Clean Bitcoin Mining Initiative
Ever since the Bitcoin mining, FUD began claiming BTC mining has a negative impact on the environment because of its high carbon footprint, a majority of crypto exchanges have started buying carbon credits in Millions to offset their carbon emission due to Bitcoin holdings. GEMINI, FTX, and Skybridge Capital are some of the crypto platforms that have bought carbon credits over the past couple of months.
The Chinese miners migration has also helped in making the Bitcoin network greener since a significant portion of Bitcoin miners used coal-based electricity. Now, these miners are moving to countries where the Bitcoin mining industry is somewhat regulated and offers energy supply from clean energy sources, be it Kazakistan, the US, or North American nations.
The Interest of public companies in clean mining would only help this trend grow further which would eventually eliminate the only major FUD in the Bitcoin market, helping its price surge further.
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Since the inception of Bitcoin in 2009 by the unknown founder popularly known as Satoshi Nakamoto, the march for its legalization as well as other cryptocurrencies had continued till this point. While some countries had officially legalized Bitcoin and accepts it as a legal tender, others rather reject and ban it. The rest tend to maintain a neutral approach of tolerating it without either banning nor legalizing it. The major reason for this has been that Bitcoin and other cryptocurrencies lacks regulation and centralization and hence, beyond the control of the government. However, there is a general vision that given the popularity of Bitcoin itself and other cryptocurrencies, more countries will in no distant time give an official approval and legalization of Bitcoin and Cryptocurrencies.
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