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The explosion in Nat Gas prices could have unforeseen consequences

21 Sep, 2021

The following is not something that has been covered much here, but most recently the price of Natural Gas has been surging. This is all due to shortages and a demand increase, coupled with a reduction in the supply of Nat Gas from Russia to Europe, said to be in the region of 25%. The ramifications of this here in the UK have been significant, with a reduction in CO2 production leading to a potential disruption of food supply chains as result of gas price increases causing shutdowns of fertilizer and CO2 production plants. There are also issues about overall electricity supplies both now and in the weeks ahead. This could also impact Europe too and this in turn could have implications elsewhere and in other markets as well. The one thing that springs to mind here; is the implication for a reduction in megawatt output across a number of countries, if the situation does deteriorate further. Under such circumstances could that not have significant implications for the cryptocurrency mining business? Of course there is no suggestion yet of an outright ban on the mining of Bitcoin, but we know the incredible amounts of power needed to facilitate that, especially for BTC. Meanwhile, BTC has just lifted back above 43k, currently trading at $43,175

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