Montana miners will finance green energy industry, building the largest solar mining farm, is the prediction of the female stock god coming true?

Not long ago, the female stock market guru Cathie Wood stated that Bitcoin mining will drive the development of the global green energy industry, and this argument seems to be gradually gaining traction.

North American Miners Supporting Green Energy Industry

According to previous reports, Cathie Wood, the founder of Ark Investment Management, pointed out at the 2021 Consensus Conference that the recent halving of Bitcoin prices in the past few weeks is related to environmental concerns about mining from institutional investors. She stated that Bitcoin mining poses some practical environmental issues, causing many institutions to pause their purchases.

However, Cathie Wood does not believe that this will hinder Bitcoin from mainstream adoption. On the contrary, she believes that Bitcoin's green energy issues will make renewable energy industries such as solar power more attractive to innovative investors, leading to mutual growth between mining activities and renewable energy. This argument seems to be gradually fermenting and proving true in reality.

According to a report from a local news media in Montana,Montana's cryptocurrency mining company, Madison River Equity LLC, will invest $250 million in the "Basin Creek Solar Project" and will apply for special use permits from the Montana Zoning Commission next month to build a large solar power plant on private ranch land in Butte.

Madison River Equity is a subsidiary of Rick Tabish's FX Solutions, which has previously built a data center named Atlas Power near the solar power plant for cryptocurrency mining and cloud computing purposes.

The solar project funded by the company is expected to generate nearly 300 megawatts of electricity annually, with 75 megawatts allocated to Atlas Power's mining operations and the remaining 225 megawatts supplied to Northwest Energy or other public utility companies.

The entire project, including construction and materials, costs $800 million and is referred to in the report as one of the largest Bitcoin green energy mining facilities in the United States and possibly the world. As more miners switch to renewable energy sources instead of coal or other non-renewable sources, the renewable energy industry will receive more development resources and funding, potentially helping Bitcoin shed its "not environmentally friendly" reputation.