- If Tesla starts accepting BTC payment again then it will definitely boost Bitcoin price.
- The amount of Bitcoin mining energy originating from renewable sources has surpassed 50%.
It seems that the criteria set by Elon Musk in 2021, that miners must use around 50% renewable energy sources “with positive future trend,” has been reached.
The amount of Bitcoin mining energy originating from renewable sources has surpassed 50%, according to Bloomberg analyst Jamie Coutts, who posted the news in a thread on Twitter on September 14. He attributed this to “falling emissions plus a dramatically rising hash rate.”
Coutts claims that the movement toward renewable energy sources is due to miners leaving China because of the country’s mining prohibition in 2021, and that other countries have turned to mining to “monetize stranded and excess energy.”
El Salvador, which has accepted Bitcoin as legal cash since 2021, is just one of many countries that have made significant investments in Bitcoin mining alongside Bhutan, Oman, and the UAE.
All Eyes on Musk
Elon Musk, CEO of Tesla, earlier made the announcement that the company will no longer accept Bitcoin (BTC) payments beginning in May 2021. He cited the bitcoin mining and transactions usage of fossil fuels as the reason for the decision.
The CEO of Tesla has not made any public announcements yet on the resumption of BTC payments. If Tesla starts accepting BTC payment again then it will definitely boost Bitcoin price. At the time of writing bitcoin is trading at $26,425 and is down 0.82% in the last 24 hours as per data from CMC.
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