North Dakota government officials are offering 'the world’s cleanest crypto' to mining companies who relocate to their state. They claim that $3B is already invested in the sector and $3B more is in the pipeline.
The department announced that the state has already secured $3 billion of crypto investment and is close to attracting another $3 billion worth of projects.
North Dakota hopes to end its reliance on agriculture and oil by enticing crypto mining companies to set up in the Upper Midwest state. There are no tax breaks or funding as the state is relying on its natural assets. It’s known for cold, dry weather which can help chill out overheating mining rigs. Add into the mix cheap electricity, and promises of the cleanest energy in the world, and it’s attractive to some mining companies to relocate.Every year across the gas and oil fields of the U.S., huge volumes of excess natural gas that is uneconomical to pipe anywhere is burned off, wasting energy and churning out greenhouse gases.
Increasingly miners are starting to set up rigs to make use of this by-product of the oil industry. It’s not just good for the environment, but financially too as they get block rewards and can sell the associated carbon credits.that he wanted to position North Dakota as having the cleanest crypto on the planet.
“We've already figured out a way to take carbon — which is considered a global liability for whatever reason — and we've been able to monetize it six ways.” Companies and governments are willing to pay a premium for these carbon credits.“We can take other people's liability or trash, if you will, and make it our treasure. That's why North Dakota is a highly specialized location for some of these crypto miners.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pantera to close Blockchain Fund soon after raising $1.3B — double the targetWith Pantera Capital’s Blockchain Fund set to close in early May, CEO Dan Morehead outlined the company will do the same with a second fund next year, before coming back with an even “larger and more diversified” fund in 2024.
Read more »
Ex-Ethereum Developer Virgil Griffith Sentenced to 5 Years in North Korea Case | CoinMarketCapThe high-profile case of former Ethereum developer Virgil Griffith was concluded, with Griffith receiving a 63-month prison sentence for helping North Korea to evade sanctions.
Read more »
EPA proposes downgrading North Front Range to 'severe' air quality violatorThe U.S. Environmental Protection Agency is proposing downgrading the northern Front Range ozone issues from “serious” to “severe” in a change that would require officials to cut emissions and pollution in the Denver metro region. via blairmiller
Read more »
Seoul: North Korea destroying S. Korean-owned golf courseNorth Korea is destroying a South Korean-owned golf course at a scenic mountain resort in the second confirmed case of South Korean assets being eliminated in an area where the rivals once ran a joint tour program, officials say in Seoul.
Read more »
Seoul: North Korea destroying S. Korean-owned golf courseSEOUL, South Korea (AP) — North Korea is destroying a South Korean-owned golf course at a scenic mountain resort in the second confirmed case of South Korean assets being eliminated in an area where the rivals once ran a joint tour program, officials said Tuesday in Seoul.
Read more »