Druk Holding and Bitdeer Technologies will create a fund on $500 million for "green" mining in the Himalayas – Bits Media

Batan company Druk Holding&Investments together with Bitdeer Technologies Group, registered on NASDAQ, plan to create a fund on $500 million for environmentally friendly mining cryptocurrencies in the Himalayas.

According to a joint statement of companies, The fund is intended for the development of a hairless cryptocurrency extraction, in which miners will use excess energy from local hydroelectric power stations. The fundraising for institutional investors will begin in late May. General Director of Bitdeer Matt Lingui Kong (Matt Linghui Kong) reported, that both companies will also invest in a new fund.

DREK HOLDING CEO & Investments Ujval Dip Dahal (Ujjwal Deep Dahal) called mining in the least risky way to use the possibilities of cryptocurrencies. Over time, this activity will allow the country to become competitive in the world economy market, Convicted by Dahal. He recently admitted, that his company has been mining bitcoin for several years - since, When he was standing about $5 000 for a coin.

As for the Singapore company Bitdeer, owned by Chinese entrepreneur Jihanu at (Jihan Wu), It is considered a major cryptocurrency miner with one of the largest mining centers in Texas. The Bitdeer management plans to create a data center for data processing before 100 megawatts. Its construction will begin in the second quarter of this year and end in July-September.

Many environmental activists consider, that due to high electricity consumption, mining bitcoin can lead to an environmental disaster. However, last year, Quantum Economics analysts denied their fears, calling the miners "forest orderlies", consuming gas gas, which could stand out in the atmosphere and destroy the ozone layer of the planet.