• 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

Neurophos Secures $110 Million to Develop Optical Processors for AI

chest

Neurophos has raised $110 million in Series A funding to develop optical processors aimed at reducing energy consumption in AI inferencing.

user avatarSatoshi Nakamura

The Continuity Premium: A Key Advantage of Management Buyouts

chest

Management Buyouts (MBOs) are increasingly recognized for their ability to preserve a company's internal culture and operational knowledge after a transaction.

user avatarNguyen Van Long

Midnight Foundation Partners with AlphaTON Capital

chest

Midnight Foundation collaborates with AlphaTON Capital to integrate privacy-focused technology with the TON ecosystem.

user avatarSon Min-ho

The Essential Role of Market Makers in Cryptocurrency Trading

chest

Market makers are essential for cryptocurrency markets, providing liquidity and ensuring efficient trading.

user avatarRajesh Kumar

Market Makers Accused of Manipulating Crypto Prices

chest

Traders in the cryptocurrency market frequently accuse market makers of manipulating prices during volatile events, leading to rapid crashes or pumps.

user avatarJesper Sørensen

Global Competition for Crypto Capital Intensifies

chest

In 2025, countries are increasingly recognizing cryptocurrency regulation as a competitive advantage, leading to a race for clear legal frameworks.

user avatarLucas Weissmann

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.