In January 2023, at the annual Davos Forum (WEF) meeting in Davos, Switzerland, Jaime Leverton, CEO of listed company Hut 8, sat down by the kitchen to chat with me at the seaside data encryption conference. Leverton outlined some of her views on the recent shift in the cryptocurrency market and reflected on the main performance of BTC mining in this volatile phase of the sector.

In all 2021 and 2022, the field of passwords experienced a marked improvement, followed by a bear market break, bankruptcy and layoffs. Leverton, who became chief executive of No. 8 small House Mining four years ago, has experienced such fluctuations from the front line.

"Obviously, all of us in the password have had these ups and downs, "Lefton said when asked about the personal experience of Hut8, a leading cadre, in the password industry in recent years. "I think the mining industry has experienced some very big ups and downs in the past few years," she added, stressing that "from the perspective of the bitcoin mining industry, 2022 can be said to be an extreme storm." She continued:

"We're going to have record-breaking hash rates, listless bitcoin prices and energy problems, which is happening quickly with the strong support of one of the biggest bull markets you see, especially in the password mining industry. I saw more than 20 new mining companies go public. In its heyday, there were nearly 40 bitcoin mining companies selling bitcoin in North America alone.

Leverton stressed that Hut 8 is a pioneer in bitcoin mining in terms of public physical lines, entering the Australian market in 2018 and then the Nasdaq market in 2022. According to the CEO of Hut8, the password bull market of 2021 deeply attracted very large capital inflows into digital currency mining, which enhanced leverage.

"and then you add to the perfect storm I mentioned in 2022-the industry has really changed, and there are a lot of difficulties for those who have seen a lot of financial leverage, so we are now at a stage where we are beginning to see some convergence in the sector, and let's see more companies that are just starting to diversify, and that's what Hut is doing-- and gradually doing so in the bull market."

Leverton is on Cointelegraph's annual list of the top 100 most influential companies in the field of cryptography. He ranked 73rd on the 2023 list.

Later in the interview, Leverton discussed the development goals of bitcoin discovery. "I think we should have the most compelling conversation about Bitcoin discovery, which is in fact its market prospects," he added:

"the benefit of Bitcoin discovery is that I am a founding member of the Bitcoin Discovery Committee, and you actually released our latest data earlier this week, and it turns out that 58.9% of the energy used in Bitcoin based on blockchain technology is now renewable, and that proportion is still growing quarter by quarter."

The 58.9% figure comes from a report released by the Bitcoin Mining Federation in January 2023, which sets out the survey report for the fourth quarter of 2022. The application of electric energy has always been a controversial topic in the field of passwords, and Tesla Automobile CEO Elon Musk expressed his enthusiasm for this topic. According to another interview with Cointelegraph, one of the arguments made by Priscilla Hazaka, a cyber security engineer, is that popular banks make bitcoin very different in terms of energy applications.

About: our countryNo. 8 small houseThe CEO said that even if there is no FTX or password turbulence, a combination can occur.

'The exciting thing about me and our own field is how Bitcoin mining is really promoting breakthroughs and investment in renewable resources in a really critical way, 'Mr. Leverton said.

"We can see a large number of Bitcoin mines making extensive use of organic waste gas, torch gas and waste disposal sites to generate electricity and prevent carbon emissions into the air."

According to Leverton: "the advantage of bitcoin mines is that they don't need to be transmitted to coaxial cables, so you can actually mine bitcoins immediately in areas that are out of balance." She noted that mining was gradually building trends in rural Africa, adding that they were confident of self-financing, which was "the most exciting thing that happened in the mining sector in 2023 and 2024".