The Bitcoin mining industry is rapidly evolving, making significant progress in utilizing clean energy. According to Woocharts data, currently 56.76% of the energy used in Bitcoin mining is sourced from clean resources. This reflects Elon Musk’s promise of reconsidering Bitcoin payments acceptance by Tesla. Woocharts data shows a continuous growth in sustainable energy usage in Bitcoin mining from April 2021 onwards. This metric is calculated by the Cambridge Center for Alternative Finance and includes resources like wind, solar, water, and even nuclear energy. In 2021, Tesla purchased $1.5 billion in Bitcoin and announced it would accept this digital currency as a payment method. However, due to high energy consumption by Bitcoin, Tesla suspended this option shortly after. Elon Musk stated in June 2021 that if Bitcoin’s clean energy consumption reaches about 50%, Tesla will resume accepting payments with this digital currency. Currently, mining companies like MARA Holdings and Riot Platforms have invested in clean energy. For instance, Riot Platforms increased its Bitcoin reserves from 667 units to 17429 units by purchasing. These strategies aim to preserve capital and leverage Bitcoin’s growth, with successful examples like MicroStrategy, recently added to the Nasdaq-100 index due to this strategy. However, the global energy crisis remains a challenge for this industry. You can track the prices of all tokens and cryptocurrencies live on the Momentary Price page for digital currencies.
