Over $1 trillion of a precious and highly desirable metal is ready and waiting to be mined on the moon – and it’s not gold, according to researchers.

A massive pile of platinum has accumulated under the moon’s surface, according to a paper published in the journal Planetary and Space Science.

Lead researcher Jayanth Chennamangalam tells New Scientist that the trillion-dollar estimate stems from findings that around 6,500 lunar craters, each at least 1 kilometer wide, contain significant platinum group metal (PGM) deposits from asteroid impacts.

The study spotlights the commercial potential of resources in space, which could attract private investment and reduce reliance on government funding for space exploration.

And lunar mining could be far more viable than extracting resources from near-Earth asteroids, with the moon offering a vastly larger number of potential mining sites.

Beyond its appeal in jewelry, platinum is coveted for its strength and vital use in high-tech applications, powering everything from clean energy solutions to life-saving medical equipment.

The precious metal’s price has soared this year, climbing over 30% to around $1,400 per troy ounce, driven by a global supply deficit and rising demand from the automotive and jewelry sectors.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post $1,000,000,000,000 of Extremely Scarce Asset Is Hiding on the Moon, Ready To Be Exploited – And It’s Not Gold: Report appeared first on The Daily Hodl.

Over $1 trillion of a precious and highly desirable metal is ready and waiting to be mined on the moon – and it’s not gold, according to researchers.

A massive pile of platinum has accumulated under the moon’s surface, according to a paper published in the journal Planetary and Space Science.

Lead researcher Jayanth Chennamangalam tells New Scientist that the trillion-dollar estimate stems from findings that around 6,500 lunar craters, each at least 1 kilometer wide, contain significant platinum group metal (PGM) deposits from asteroid impacts.

The study spotlights the commercial potential of resources in space, which could attract private investment and reduce reliance on government funding for space exploration.

And lunar mining could be far more viable than extracting resources from near-Earth asteroids, with the moon offering a vastly larger number of potential mining sites.

Beyond its appeal in jewelry, platinum is coveted for its strength and vital use in high-tech applications, powering everything from clean energy solutions to life-saving medical equipment.

The precious metal’s price has soared this year, climbing over 30% to around $1,400 per troy ounce, driven by a global supply deficit and rising demand from the automotive and jewelry sectors.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post $1,000,000,000,000 of Extremely Scarce Asset Is Hiding on the Moon, Ready To Be Exploited – And It’s Not Gold: Report appeared first on The Daily Hodl.