• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Bitcoin and Tesla payments: The Energy Connection

user avatar

by Giorgi Kostiuk

a year ago

Bitcoin mining now confirms using 54% renewable energy, which might be sufficient for Tesla to consider reinstating Bitcoin payments.

Elon's ultimatum and Bitcoin's energy issues

In May 2021, Elon Musk halted Bitcoin payments for Tesla due to environmental concerns. He expressed worry over the increasing use of fossil fuels, especially coal, in Bitcoin mining.

The new energy mix of Bitcoin

Renewable energy now accounts for 54% of Bitcoin mining energy, with major shifts to locations like Quebec and Iceland for cleaner and cheaper power sources. Coal, however, remains at 22%.

Will Tesla bring back Bitcoin payments?

With the renewable energy condition met, Tesla might consider resuming Bitcoin payments. Still, other factors such as political dynamics might play a role in the decision.

While Elon's renewable energy criteria have been met, further influences, including political ones, might affect Tesla's decision on Bitcoin payments.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Peter Brandt Predicts Bitcoin's Path to 200K Delayed Until 2029

chest

Veteran trader Peter Brandt predicts that Bitcoin will not reach a six-figure price by New Year's Eve, suggesting a gradual climb to 200K by 2029.

user avatarMaria Gutierrez

China and UAE Launch New Crossborder Payments System

chest

China and the UAE have launched a new crossborder payments system, enabling real-time settlements between their economies.

user avatarDavid Robinson

PEPENODE Emerges as a New Player in the Crypto Space

chest

PEPENODE emerges as a notable player in the crypto market, offering a gamified mining experience as the world's first minetoearn memecoin.

user avatarAndrew Smith

Vitalik Buterin Warns Against Institutional Dominance in Crypto

chest

Vitalik Buterin warns about the increasing dominance of institutional giants like BlackRock over cryptocurrencies, emphasizing the threat to decentralization.

user avatarJacob Williams

USDD Special Promotion Offers Up to 10% APY and Trading Rewards

chest

The USDD Special Promotion offers various benefits including up to 10% APY and trading rewards for registered participants from November 21 to December 1.

user avatarZainab Kamara

HTX Launches Third Round of USDD Special Promotion

chest

HTX has officially launched the third round of its USDD Special Promotion, offering enhanced benefits for users.

user avatarSon Min-ho

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.