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The massive amounts of electricity required to mine bitcoin could benefit these 5 stocks, Morgan Stanley says

germany solar

  • Energy demand to mine cryptocurrencies “may represent a new business opportunity for renewable energy developers,” Morgan Stanley said.
  • Low-cost power regions, including the Southwest or Midwest US, and areas with the potential for wind and solar energy, stand to benefit the most from the rise in demand for energy.

Crypto mania could soon have an impact on the renewable energy business, according to Morgan Stanley.

In a note to clients, the US investment bank said that it costs between $3,000 and $7,000 to mine each bitcoin, making low-cost energy a key focus for bitcoin miners. That, in turn, may present an opportunity read more >>>

Source:: BusinessInsider.Com