Hey Influence Traders,
Green energy is on the rise.
US and global carmakers are creating international rules to accurately measure carbon dioxide emissions of car batteries, with rollout as early as 2022.
Batteries account for about half the CO2 generated in the production of electric vehicles.
The Mobility Open Blockchain Initiative (MOBI), which counts Ford Motor (Ticker: F), Honda Motor Company (Ticker: HMC) and Japanese trading house Itochu among its members, will lead the development of the standard.
The annual global production of four Mobi-affiliated automobile manufacturers is nearly 20 million vehicles, accounting for about 20% of the total market.
Blockchain will be used in the new standard to create an immutable record of CO2 emissions.
Everyone Is Going Green
With the recent crypto downturn, mining companies like Riot Blockchain (Ticker: RIOT) and Marathon Digital Holdings (Ticker: MARA) have been getting killed.
And they may be green with envy …
Renewable energy-focused bitcoin mining company Bitfarms (Ticker: BITF) estimates that, among publicly traded cryptocurrency mining companies, it has mined the largest amount of bitcoin with renewable energy.
Renewable energy-focused bitcoin mining will be crucial for Tesla (Ticker: TSLA) and other institutional players reengaging with the crypto-currency.
BITF said it currently powers approximately 1% of the bitcoin network with more than 99% “green" hydroelectricity.
In other words, it has a lot of room to grow.
As a North American company (it is headquartered in Toronto), BITF should benefit from the crypto mining restrictions in China.
I’m placing BITF in the PowerMoves Portfolio.
Cutting Through the Noise for You.