Gus Hurwitz on Crypto’s Energy Needs

KOLN-TV – ICLE Director of Law & Economics Programs Gus Hurwitz was quoted by Nebraska television station KOLN in a story about the crypto industry’s needs for cheap energy sources. You can read full story here.

“Basically, the business of crypto is converting electricity into computer computations,” said Gus Hurwitz, a law professor at the University of Nebraska College of Law.

…“We are definitely at a low point in the industry right now,” said Hurwitz, the law professor. “It’s possible we could get lower. Anyone entering into this market right now needs to be better capitalized, and capitalized in a less risky way than they likely were a year ago.”

…Nebraska towns and utility districts now hopefully fully understand the risks they might face with crypto companies, Hurwitz said.

“Companies, municipalities, investors, bankers, lenders – anyone who was willing to fund things – is going to be doing so with much more awareness of the risks,” he said. “I would not be willing to take anything on credit.”