We repeat this quite often, but there is no shortage of positive fundamental news related to the crypto industry, and we are once again on a wave where we hear something encouraging every day that can have a significant impact on the industry in the long term. The opposite is not true even today, when the second-largest energy company in the United States, Duke Energy, decided to explore BTC mining. There have already been speculations that the company decided on this move to satisfy its customers’ demand as part of its strategy.
Duke Energy’s Prime Rate and Regulatory Strategy Analyst Justin Orkney confirmed the news on the latest episode of Troy Cross’s Bitcoin, Energy, and the Environment podcast. In this episode, Justin said that he is working on a BTC demand response study as well as a study to include BTC mining in their system. However, we are still talking about a cryptocurrency that continues to use the Proof-of-Work (PoW) consensus, which is very energy-intensive to mine and does not benefit the environment in any way, on the contrary. A much better variant is Proof-of-Stake (PoS) and it is, therefore, questionable how it will all turn out in the end.