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Can harnessing renewable energy help miners

Can harnessing renewable energy help miners

Crypto industry brass explains that harnessing renewable energy could help the BTC miners. Bitcoin mining through renewable energy is already prominent.


The energy consumed by mining and the process that keeps Bitcoins blockchain running has become a growingly popular topic of discussion in recent weeks.


CNBC Interview


CNBC posted an interview with Yonathan Lapchik, Suku CEO, on Friday. In the interview, he explained that the Bitcoin mining scene is related to renewable energies. In addition, he claimed that 75% of Bitcoin mining comes from renewable energy during the interview.

Actual Figure


Moreover, he added that 75% is an actual figure, and the miners are indeed incentivized to use renewable energy. Finally, he shifted his thoughts towards electric car maker Tesla.


Tesla

Tesla made a recent announcement that it would no longer accept Bitcoin for purchases due to environmental concerns. Lapchik also said that it is surprising that Elon did not consider that before getting into space.


He should have done that before accepting Bitcoin as a payment mechanism for Tesla. Moreover, Tesla opened its doors to payments through Bitcoin by United States clientele bank back in March.


This move went public after the car company purchased BTC worth $1.5 billion. However, Musk recently stated their disapproval of the fossil fuel energy Bitcoin mining calls through a Tweet on Wednesday. In addition, he discontinued payments to Tesla using BTC.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.