Environmental - Page 8 of 31

Crypto Twitter Explodes as Elon Musk Announces Tesla Will Stop Accepting Bitcoin Payments

Twitter has gone haywire after Tesla CEO Elon Musk’s latest tweet. The eccentric billionaire is known for resorting to Twitter to comment on his latest views on cryptocurrencies, with his latest antic being an announcement on Twitter that Tesla will no longer be accepting Bitcoin payments. The explanation for stopping Bitcoin payments at Tesla seems … Continue reading Crypto Twitter Explodes as Elon Musk Announces Tesla Will Stop Accepting Bitcoin Payments

Bitcoin Plummets to $46K after Tesla Refuses Bitcoin Payments

After Elon Musk’s latest announcement on Twitter that Tesla will no longer be accepting Bitcoin payments due to its environmental footprint, Bitcoin’s price dropped by nearly $10,000, tanking from $55,000 to $46,000 on Binance crypto exchange. Currently, BTC is recovering its losses, with Bitcoin bulls working hard and attempting to hold its 100-day moving average of … Continue reading Bitcoin Plummets to $46K after Tesla Refuses Bitcoin Payments

Bitcoin Mining Difficulty Hits a 7-Year High

Bitcoin Mining Difficulty hit a 7-year high Thursday, according to data from Glassnode. The on-chain metrics provider said: “Bitcoin mining difficulty has increased by 21.5% today. It is the largest positive difficulty adjustment in almost 7 years.” The level of Mining Difficulty is determined by the amount of computing power consumed by the BTC network … Continue reading Bitcoin Mining Difficulty Hits a 7-Year High

Elon Musk Hints at Possibility of Replacing Bitcoin Payments at Tesla with Dogecoin

After announcing via Twitter that Tesla will stop accepting Bitcoin payments, CEO Elon Musk has hinted that the auto manufacturing giant may not be done with cryptocurrencies altogether. Although Bitcoin (BTC) payments will no longer be accepted at Tesla, Musk has rectified that the company will still hold on to its crypto investments, which consists … Continue reading Elon Musk Hints at Possibility of Replacing Bitcoin Payments at Tesla with Dogecoin

Ethereum Gas Fees Surge to a Monthly High, Supply on Exchanges Continues to Decline

After hitting highs of $4,350 recently, Ethereum (ETH) retraced to $3,871 at the time of writing, according to CoinMarketCap. The crypto market experienced shock waves after Tesla, the American electric car manufacturer, decided not to accept BTC payments, citing concerns of negative environmental impact. The Ethereum network has enjoyed notable milestones ever since the second-largest cryptocurrency breached … Continue reading Ethereum Gas Fees Surge to a Monthly High, Supply on Exchanges Continues to Decline

Ethereum Hodlers are Increasingly Bullish as ETH Google Search Volume Doubles that of 2017

After hitting highs of $4,350 recently, Ethereum (ETH) has dropped by 9.4% in the last 24 hours to trade at $3,280 at the time of writing, according to CoinMarketCap. The crypto market has experienced a steep plunge based on Elon Musk’s tweets, which have created a headwind for Bitcoin. Nevertheless, Ethereum hodlers are showing bullish … Continue reading Ethereum Hodlers are Increasingly Bullish as ETH Google Search Volume Doubles that of 2017

Fisker Electric Vehicle Startup Bans Bitcoin Investment

A start-up electric vehicle company Fisker Inc. (NYSE: FSR) announced Monday that the company will not accept Bitcoin (BTC) as an investment due to environmental impacts caused by Bitcoin mining. Fisker’s CEO Henrik Fisker accepted a program interview with CNBC. He said that Bitcoin (BTC) is not “sustainable” and “environmental-friendly” enough due to high electricity consumption during … Continue reading Fisker Electric Vehicle Startup Bans Bitcoin Investment

Elon Musk’s Concerns Over Bitcoin's Energy Consumption Are Misguided, Says Ark Invest

Yassine Elmandjra, an analyst at Ark Investment Management company, said that Elon Musk’s concerns about Bitcoin’s energy usage were “misguided.” Last week, Elon Musk, the founder and CEO of Tesla Inc., caused an uproar in the crypto space over his concern that Bitcoin mainly relies on fossil fuels for its energy needs. He further said … Continue reading Elon Musk’s Concerns Over Bitcoin's Energy Consumption Are Misguided, Says Ark Invest

Traditional Banking System Consumes Twice Energy Than Bitcoin Mining, New Research Reveals

A new study released by Galaxy Digital Holdings Limited shows that the traditional banking system consumes double the amount of energy that Bitcoin mining uses. Galaxy Digital, an asset management company owned by crypto bull Mike Novogratz, released a quantitative study comparing Bitcoin’s energy consumption to the traditional banking system and gold industries, accompanied by … Continue reading Traditional Banking System Consumes Twice Energy Than Bitcoin Mining, New Research Reveals

Greenidge Commits to Being 100% Carbon Neutral for Its Bitcoin Mining Facility Starting June 2021

Greenidge Generation Holdings Inc. has announced that it will offset all greenhouse gas emissions from its Bitcoin mining facility through a portfolio of fully accredited offset credits, beginning June 1st. The company has said that it will conduct an entirely carbon neutral Bitcoin mining operation at its powerplant-cryptocurrency mining hybrid facility in Upstate New York. … Continue reading Greenidge Commits to Being 100% Carbon Neutral for Its Bitcoin Mining Facility Starting June 2021