Is bitcoin mining going green?
The fiercely contested bitcoin energy debate has gained momentum amid growing concerns about the environmental impact of mining cryptocurrencies. The ‘bitcoin gold rush’ is getting people talking about the environmental impact and some tech leaders say that cryptocurrency could be the catalyst for a renewable energy revolution.
At a recent virtual panel discussion hosted by the Crypto Council for Innovation, Tesla CEO Elon Musk said “When there’s confirmation of reasonable (~50%) clean energy usage by miners with a positive future trend, Tesla will resume allowing bitcoin transactions.” Twitter CEO Jack Dorsey, who also participated in the virtual panel, argued that bitcoin can incentivise the transition to renewable energy.
A new report from the Bitcoin Mining Council counters bitcoin mining concerns and offers a more optimistic outlook.