It should be noted that Kevin O’Leary has indeed turned from a Bitcoin critic to a Bitcoin fan. This became clear, including in March 2022, when the investor spoke about his cryptocurrency investments. He had previously held approximately 3 per cent of his own investment portfolio in crypto, but now the figure has risen to 20 per cent. Accordingly, one in five of the investor’s dollars was invested in digital assets.

How will cryptocurrency mining help the world?

A lot of time has passed since the millionaire’s previous comment, and crypto mining is now officially banned in China. As a consequence, a great many miners have been forced to leave the country – including a move to Kazakhstan, which has quickly become one of the hubs of business.

Against this backdrop, O’Leary is now more optimistic about the prospects for mining.

So how can mining help the world? Many miners are looking for new sources of energy. O’Leary argues that the demand for nuclear and hydroelectric power will spur further innovation in energy. Last autumn, for example, the mining company TeraWulf partnered with a nuclear power plant in Pennsylvania to get a stable source of electricity.

Millionaire Kevin O’Leary

According to Decrypt sources, miners in Costa Rica are bringing back hydroelectric power plants to provide a cheaper and cleaner source of the main resource for themselves. The University of Cambridge estimates that around 39 per cent of the Bitcoin network’s computing power uses energy sources that are sustainable and do no significant environmental damage.

That said, O’Leary has little confidence in emission offsetting programmes. He says they are difficult to audit, so they are not suitable as a temporary measure to counter environmental damage. Such programmes are investments into development of more ecological methods of resources production by the companies, which emit too much pollutants. That is, it is a kind of “compensation” for the damage done by one’s own company.

Bitcoin network hashrate

O’Leary also sees cryptocurrency regulation as an important part of the evolution of the crypto market. While some may be wary of government-imposed restrictions, the millionaire is in favour of proper control of the industry. On the plus side, the lack of a unified approach to crypto regulation has so far deterred many large investors from investing in the market.

On topic: Forbes' ranking of crypto-billionaires has been updated with new names. Who has become the richest crypto enthusiast?

In the quest of many cryptocurrency enthusiasts for the widespread adoption of Bitcoin, positive news has often begun to emerge. One of them is Crypto.com’s ongoing partnership with Ultimate Fighting Championship (UFC), the world’s largest professional mixed martial arts promotion. The new phase of the partnership will result in the payment of bonuses to the best fighters of the night.

UFC and Crypto.com partnership

Bonuses will be given to the three most effective fighters: they will share the prize of $60,000, which will be paid by the cryptosponsor – and that in Bitcoin. According to a statement from Crypto.com representatives, $30,000 will be awarded for first place, $20,000 for second place, and $10,000 for third place.

UFC president Dana White commented on the event.

Crypto.com has been working with the UFC for less than a year now and I want to say that they are already one of our best partners. They are constantly coming up with new ideas on how we can work together to connect with the fans.

UFC Championship belt

Binance cryptocurrency exchange chief Changpen Zhao also reacted to the news. He published a picture with famous fighter Khabib Nurmagomedov and confirmed that the UFC will pay bonuses in crypto. As Changpen noted, the photo was taken quite a while ago.


We believe that mining Bitcoin and other cryptocurrencies can indeed have a positive impact on the power sector. That said, the potential of digital assets themselves is much greater. After all, they give investors full rights over coins that no one can confiscate, and the inflation of the same BTC is fixed and limited, which is quite different from what is happening in the traditional finance niche. Obviously, it will be developing with this trend in mind.

What do you think about it? Share your opinion in our millionaires’ cryptochat. There we will discuss other statements by celebrities about digital assets.