Bitcoin News: BlackRock’s Stake in North American Mining Companies
The latest Bitcoin news discusses BlackRock’s stake in several North American mining companies. However, this news is not new and dates back to June 2021. At the end of the second quarter of that year, BlackRock held the same equity stakes in Marathon Digital Holdings and Riot Blockchain. The media has criticized BlackRock’s exposure to high Co2-emitting practices, specifically related to Bitcoin mining. But the reality is different.
Main Breakdowns:
– BlackRock has been a shareholder in North American mining companies since June 2021.
– BlackRock’s stake in these companies has not changed since then.
– Recent news about BlackRock’s stake is being spread out of context.
– The investment in these companies is not as significant as claimed.
– Bitcoin mining’s impact on carbon emissions is being exaggerated.
Bitcoin News: Alleged New Stake by BlackRock
There have been recent rumors about BlackRock acquiring a stake in four cryptocurrency mining companies, making it the second-largest shareholder. However, this news is not new, and it has been circulating since BlackRock submitted an application for a Bitcoin spot ETF in the United States. The company and its CEO, Larry Fink, have shown positivity towards Bitcoin in the past, referring to it as “digital gold.” GreenPeace USA has spread the news of BlackRock’s exposure to mining companies, but this information is not recent and has been known since June 2021.
Main Breakdowns:
– Rumors about BlackRock’s new stake in cryptocurrency mining companies are not new.
– BlackRock’s interest in Bitcoin has been evident for some time.
– The recent news is being circulated to manipulate the cryptocurrency market.
– The investment value is being exaggerated.
– BlackRock’s exposure to mining companies has been known since June 2021.
Bitcoin’s Energy Sustainability and Media Criticism
The media has been critical of Bitcoin mining, claiming it to be a high Co2-emitting practice in which BlackRock is heavily involved. However, the reality is different. According to data from the Bitcoin Mining Council, Bitcoin mining only contributes 0.135% of the world’s Co2 output. In comparison, it pollutes significantly less than sectors such as residential construction, military, and financial/insurance. The sustainable energy mix used by miners is also greater than that adopted by many nations. Mainstream narratives continue to blame Bitcoin for its alleged energy impact without considering other factors.
Main Breakdowns:
– Media criticism of Bitcoin mining’s environmental impact is exaggerated.
– Bitcoin mining pollutes significantly less than other industries.
– The renewable energy mix used by miners is greater than that used by many countries.
– Bitcoin mining promotes the use of renewable energy sources.
– Blaming Bitcoin for pollution overlooks other major sectors causing environmental issues.
Hot Take
The recent news about BlackRock’s stake in North American mining companies is not new and has been taken out of context. The media’s criticism of Bitcoin mining’s environmental impact is exaggerated, as it contributes significantly less to Co2 emissions compared to other industries. Blaming Bitcoin for pollution overlooks the real culprits in terms of environmental damage. It is important to consider all factors and data before making judgments about Bitcoin and its impact.
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