Bitcoin

Mining Hits 57% Renewable Energy, Will Tesla Keep Paying in BTC?

Bitcoin mining is reaching 57% renewable energy according to the latest reports, which is why so many crypto users are pushing Tesla to keep paying in BTC. Energy use is one of the biggest problems in the crypto space, and concerns about energy use and environmental impact are cited as a reason for China’s crackdown that led miners to flee the area following the nationwide ban. But first, let’s talk about Tesla first in today’s bitcoin breaking news.

Automaker Tesla cited similar reasons when it scrapped the BTC payment option on its electric vehicles, having previously introduced it. According to CEO Elon Musk, the company plans to reintroduce BTC payments, but the benefit is that BTC mining must be at least 50% clean energy.

https://twitter.com/elonmusk/status/1404132183254523905?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
Established in June, the Bitcoin Mining Council is dedicated to tracking and reporting mining activities in this area and one of them is the use of renewable energy in mining. The council consists of a network of BTC miners who first reported in the second quarter of this year that bitcoin mining is reaching 57% renewable energy. The board has again published a report dealing with the energy consumption of mining operations. Therefore, the BTC Mining board reported that the use of renewable energy increased in the third quarter and reached 57.7% renewable energy. Those numbers are above the threshold set by the Tesla CEO in June.

However, studies show that 57% renewable energy is achieved in Bitcoin mining, which should be enough for Musk to bring in Bitcoin payments. Speaking to Twitter, BTC advocates urged Elon Musk to reconsider his claims against BTC transactions, and data from the Bitcoin mining board cited by others shows that mining activities are using more than 50% cleaner energy operate. Others questioned the reliability of the numbers provided by the panel, citing information from the press release that 33% of the global Bitcoin network took the survey, but another user said there is no way to get more data with paper surveys obtain. Instead, energy audits need to be conducted to determine the percentage of the energy that is clean energy.

https://twitter.com/BTC_Archive/status/1466088836136681482?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
There is no doubt that Tesla’s resumption of Bitcoin transactions will be good news for the marketplace. When the manufacturer first implemented crypto payments, the price of BTC skyrocketed. Elon Musk has not yet addressed the problem, despite two reports from the Bitcoin Mining Council showing that mining is over 50% clean energy.

Coincu

Recent Posts

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

55 minutes ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

2 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

3 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

3 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

4 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

4 hours ago

This website uses cookies.