In an exclusive interview last October, the chairman of O Shares and Beanstox, Kevin O Leary, aka Shark Tank TV star and renowned businessman, told CryptoSlate he was exposed to the blockchain infrastructure.
As Mr. The largest pension and sovereign funds in the world are in the Middle East, according to Wonderful.
He said that he was interested to see if there was a way to invest together, revealing that Middle Eastern investors are contemplating mining operations. According to O Leary's prediction for institutional adoption in the next two to three years, sovereign funds will get more involved inBitcoin mining.
He noted that doing it sustainably and ethically will be crucial due to environmental controversies.
Wonderful said he always wanted to open up his own Bitcoin mining operations, and that he will probably do it in 2022.
He said mining companies should be able to track their Bitcoin rewards in company balance sheets, enabling investors to acquire company stocks and get direct exposure toBitcoin through equity.
That is what is going to happen this year, O Leary pointed out that some enterprises will use old Chinese stacks to set up in new jurisdictions.
O Leary said nuclear power in the Middle East is leveraging the excess of electricity available for mining Bitcoins, but cooling remains an issue.
O Leary said that a couple of ventures are exploring the possibility of building big billion-dollar mining facilities deep underground, as the cooling of huge stacks beneath the deep sand could prove very efficient.
He concluded that cooling systems that work are still being explored, and it is still early for the Middle East.
Most countries are interested in miningBitcoin on their own land, he said, and has been very open about increasing his exposure to cryptocurrencies, strategically investing in a wide variety of different products and services.