BlockTower Co-Founder: Crypto Mining Encourages Green Energy Research and Bitcoin Investment

Ari Paul, co-founder of hedge fund BlockTower, recently tweeted that crypto mining cannot transmit electricity over long distances, so electricity must be used nearby.

He noted that this means that much of the electricity demand for mining tends to occur in areas such as Kazakhstan and rural China, as green energy is often easiest to generate in remote locations. Because of this non-localized demand, crypto mining tends to encourage green energy research and investment, and green energy efficiency growth could benefit the world.