Tesla May Resume Bitcoin Payments as 50% Clean Energy Threshold in Mining Met, Says Elon Musk
Summary:
Elon Musk's requirement of 50% clean energy usage in Bitcoin mining may have been met, potentially leading to Tesla accepting BTC payments. Bloomberg analyst Jamie Coutts reports a rise in renewable energy sources in mining and a decrease in emissions. This shift is attributed to miners relocating from China and several countries investing in BTC mining. However, Musk has not announced any plans to resume BTC payments. Bitcoin's price is currently $26,572 with a 2% weekly increase.
Elon Musk's 2021 statement about Tesla accepting Bitcoin payments once miners reached 50% clean energy usage may have recently been met. According to Bloomberg analyst Jamie Coutts, the percentage of renewable energy sources in Bitcoin mining surpassed 50% with a rising hash rate and decreasing emissions. This shift towards sustainability is attributed to miners relocating from China and countries like El Salvador, Bhutan, Oman, and the United Arab Emirates investing in BTC mining. Achieving the 50% energy benchmark could potentially lead to greater adoption by major companies. Despite this positive trend, Musk, the CEO of Tesla and founder of SpaceX, has not publicly announced any plans to resume BTC payments. Currently, the price of Bitcoin is $26,572, with a 2% increase in the past week.
Published At
9/14/2023 9:20:00 PM
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