Mining bitcoin has become a computing power battle, with machines devouring electricity while racing to sequence digital blocks in a chain. San Francisco: Tesla hit the brakes Wednesday on letting people pay for electric cars with bitcoin, saying the computing-intense mining process of creating new cryptocurrency spews climate-harming emissions. “We are concerned about rapidly increasing […]
Elon Musk Realised That He Can’t Champion Both Renewable Energy and Bitcoin at the Same Time — Here’s Why
Cryptocurrency mining is a virtual process and consists of complex mathematical algorithms that need computation. The more you mine, the harder it becomes to mine further. Many have adopted green sources of electricity like solar and wind, but the proportion is minuscule. On Thursday morning, India time, cryptocurrency aficionados around the world read this news. […]
Why Does Bitcoin Consume ‘Insane’ Energy?
Obtaining bitcoin is an energy intensive endeavor, and the chart showed the evolution of its power usage, rising constantly from 2016 and accelerating sharply in 2020 on an annualized basis to hit its current level of 149 terawatt-hours (TWh), an all-time high. New York: Cryptocurrency fans have counted Tesla boss Elon Musk as among their […]
Bitcoin Tests $49,000 as Tesla’s Musk Steps up Criticism, but Talks up Dogecoin
The Tesla CEO said he worries about “massive use” of coal and other carbon-intensive energy to generate electricity needed to mine digital currency. Elon Musk stepped up his criticism of Bitcoin as environmentally unsustainable while also signaling support for another digital coin and saying he remains a believer in cryptocurrency. The Tesla Inc. chief executive […]
Cathie Wood’s Bitcoin Climate Claims Offer More Heat Than Light
Given the dizzying price of Bitcoin and its increasingly rich and high-profile backers, it was only a matter of time before a cryptocurrency lobby emerged to tell positive stories about an investment still viewed with some suspicion by politicians, regulators and consumers. Yet even by the standards of crypto-advocates who stick laser eyes on their […]
Jack Dorsey, Elon Musk bat for Bitcoin as future of renewable energy
NEW DELHI: Arguing for Bitcoin as a key driver of renewable energys future on Earth Day, Twitter CEO Jack Dorsey and Tesla CEO Elon Musk have come forward to support the fast-growing cryptocurrency, saying that Bitcoin incentivises renewable energy. Dorsey’s digital payment services company Square and global asset manegement firm ARK Invest have jointly released […]
Gryphon Digital Mining Raises $14 Million to Launch Bitcoin Mining Operation with Zero Carbon Footprint
Gryphon founding team disrupts high-cost Bitcoin mining using the latest mining technology powered by renewables. Gryphon Digital Mining today announced it has raised a $14 million Series A to launch a Bitcoin mining operation with zero carbon footprint. Institutional investors accounted for over thirty percent of the round, which closed in just over two weeks, […]
Bitcoin mining can be a ‘bridge’ to a renewable energy future by supporting green projects, a leading North American miner says
Bitcoin can be at the heart of the transition towards renewable energy, Foundry boss Mike Colyer said. He said bitcoin mining can help renewable projects manage oversupply and support more investment. Many remain unconvinced, with Bank of America attacking bitcoin’s energy use this week. Bitcoin mining can help the development of renewable energy technologies by […]
LARGEST UTILITY SOLAR POWER PLANT IN NZ TRANSACTED USING BITCOIN
The largest utility solar power plant in New Zealand, a 2.5MW plant in Marlborough, constructed by Kea Energy will possibly become the first large-scale solar plant partly purchased using the cryptocurrency Bitcoin. The plant will generate an estimated 4,500MWh of electricity per year, powering around 550 standard New Zealand households annually. A partnership between solar […]
