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ESG Considerations in Bitcoin Mining Site Selection

1/25/2023

 
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ESG is an investing strategy that takes into account environmental, social and corporate governance factors in addition to financial analysis. It is popular with major pension funds that invest the retirements of millions of workers as well as retail investors. Bitcoin miners have been hearing this phrase more lately.

Morgan Stanley’s ESG Review Group recently observed the growing popularity of cryptocurrency has created a new wrinkle for investors—how to balance its potential upside against its inherent environmental and social impacts. Among some of the perspectives Morgan Stanley published in its findings:

“Cryptocurrencies could be one way to increase access to financial systems for the unbanked. Anyone with a smartphone or laptop and internet connection can access cryptocurrencies, which arguably is a lower requirement than that of traditional bank accounts.”

“Cryptocurrencies can support faster and more affordable cross-border transactions—specifically, giving people an easier way to send money to relatives in other countries— and may be a better alternative in countries with volatile or depreciating local currencies.”

“In 2021, an estimated $14 billion of cryptocurrency, or just 0.15% of crypto volume traded, was associated with criminal activity.”

Analysts covering cryptocurrency and sustainability at Morgan Stanley argue that new crypto regulations are likely to change the rules of investing in crypto-related products and likely the scope of services offered around cryptocurrency as well.


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JCN, LLC, d/b/a “PODMines” is an Illinois based LLC offering a subscription service suite of amenities for cryptocurrency and digital currency miners located at several properties in the Midwestern United States. Those amenities include: physical space within an exterior or interior mining pod, ambient air flow, electricity, bandwidth, 24x7 camera monitoring / key card access, and helping hands during normal business hours. PODMines expressly denies and disclaims making any representations, warranties, promises, and/or assurances of any kind regarding its subscription service to the customer other than those expressly contained within the service order and the accompanying terms and conditions of service. PODMines is not a security, or a security dealer. PODMines customers own their own mining equipment, and 100% of their subsequent mining rewards. PODMines customers may cancel their service at any time, subject to the terms and conditions of service. PODMines is not in control of, and has no influence over, the price of any digital or cryptocurrency. Cryptocurrency assets sometimes experience extreme market volatility, and anyone interested in gaining exposure to this asset class should discuss the potential risks and benefits of investing in cryptocurrency mining with any legal, investment, or other professional consultants prior to gaining exposure to this new class of assets. PODMines is not directly responsible for the day to day price of Bitcoin, or any other cryptocurrency or digital currency. PODMines customers assume all risks and liabilities inherent in mining for cryptocurrency or digital currency.
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