Shark Tank and Dragon’s Den personality Kevin O’Leary is taking a stand against what he terms “blood coin,” that being Bitcoin (BTC) mined in China. The investor declared that he would only deal with “clean coin” — coins mined using renewable energy — from now on, and suggested other institutions were starting to do the same.
O’Leary took aim at the free-wheeling nature of Bitcoin production by pointing out that most other products in the world are manufactured according to institutional and regulatory compliance standards. O’Leary said, during an interview with CNBC:
“We have compliance on large institutions, we have covenants on how assets are made, whether carbon is burned, whether there are human rights involved, whether it’s made in China.”
Every example listed by O’Leary is one that applies to the world’s largest Bitcoin mining — China, where cheap coal-fuelled electricity accounts for an estimated 50–65% of the overall Bitcoin hash rate. No one wants to buy Bitcoin that originated from