Miners are hunting for valuable minerals on the melted shores of Greenland.

As the climate crisis worsens, large swaths of ice floes in Greenland have been melting down to never-before-seen levels. While this melting is extremely disconcerting, some see it as potential opportunity for mining, which is why a coalition of billionaires have bankrolled a massive operation to do just that.

A group of billionaires including Jeff Bezos, Michael Bloomberg, Bill Gates, and more have funded a massive mining operation in Greenland’s Disko Island and Nuussuaq Peninsula. The miners are on the hunt for deposits of nickel and cobalt, precious metals that have been in shorter supply around the world in recent years. While it is disconcerting that this operation required this degree of melting to get underway, if the organizers are to be believed, a nickel or cobalt jackpot could lead to climate-aiding technological developments.

“It is a concern to witness the consequences and impacts from the climate changes in Greenland,” Bluejay Mining CEO Bo Møller Stensgaard told CNN. “But, generally speaking, climate changes overall have made exploration and mining in Greenland easier and more accessible.”

“As these trends continue well into the future, there is no question more land will become accessible and some of this land may carry the potential for mineral development,” Mike Sfraga, the chair of the United States Arctic Research Commission, told CNN.

According to the Geological Survey of Denmark and Greenland, further mining operations could uncover deposits of coal, copper, gold, zinc, and other precious metals that were previously inaccessible. “The government of Greenland supports the responsible, sustainable, and economically viable development of their natural resources to include mining of a broad range of minerals,” said Mike Sfraga, chair of the United States Arctic Research Commission.