Bloomberg Analyst Lauds Bitcoin Energy Shift Amid Rising Hashrate
The Bitcoin mining industry has risen steadily in the past few years thanks to the widespread adoption and increasing interest in the
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Energy
Renewable energy milestone opens door for Tesla to resume crypto payments
According to Bloomberg Intelligence analyst Jamie Coutts, Bitcoin has now passed the renewable energy milestone. This suggests that Tesla could resume accepting Bitcoin as payment, as cited in a 2021 tweet. The backstory on pulling the plug Elon Musk, a known supporter of cryptocurrencies including Bitcoin, has been viewed by many as being
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Bitcoin miners seek alternative energy sources to cut costs
During the 2021 bull market, many large mining companies took on massive loans to buy equipment and the proper infrastructure required to mine cryptocurrency. Yet the collapse of crypto exchange FTX and Celsius left many of these companies filing for bankruptcy. The current bear market, coupled with high Bitcoin network hash
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Bitcoin Miners’ Clean Energy Usage Reportedly Surges Past 50%
If not for anything else, the latest report about clean energy usage could mean a greater move toward the adoption of BTC. A Bloomberg analyst has just reported on the present situation with Bitcoin (BTC) miners as it concerns clean energy usage. In a recent thread on X (formerly Twitter), the analyst,
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Bitcoin clean energy usage reportedly exceeds 50% — Will Tesla start accepting BTC payments?
Elon Musk said in 2021 that Tesla would accept Bitcoin payments once miners were using roughly 50% clean energy sources “with positive future trend” — a benchmark that may have recently been met.In a Sept. 14 thread on X (formerly Twitter), Bloomberg analyst Jamie Coutts reported the percentage of Bitcoin
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Texas provides Riot $31.7m to halt Bitcoin mining amidst energy crisis
Texas Bitcoin miners have cut back 90% of their operations during the energy crisis after the state offered $31.7 million in energy credits. Amid an escalating power crisis driven by extreme weather conditions, Texas has turned to an unlikely ally for energy conservation: Riot Platforms, a major Bitcoin (BTC) mining firm. The
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Bitcoin energy value metric puts BTC’s ‘fair value’ at $47K — Analyst
Bitcoin (BTC) price is trading in a frustratingly tight range between $25,500 and $26,500, leaving traders unsure of the next direction that asset could take.However, Charles Edwards, founder of Capriole Investments, believes that Bitcoin’s current price presents a low-risk long-term buying opportunity. Edwards’ view is based on Bitcoin's production cost
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Riot Platforms says Texas energy strategy reduced production costs by $31M
Bitcoin miner Riot Platforms mined fewer Bitcoin in August than July but received over $31 million in power credits. That is the equivalent of around 1,136 Bitcoin (BTC), CEO Jason Les pointed out in a statement.Riot received an estimated $24.2 million in power curtailment credits under its contract with Texas grid
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How Bitcoin Flipped The Narrative Around Energy Consumption
The debate surrounding the Bitcoin network’s energy consumption has been intense and mostly tilted in favor of BTC detractors. These individuals and
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Iris Energy diversifies into AI with $10m Nvidia GPU purchase
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Iris Energy invests $10 million in 248 Nvidia H100 GPUs to expand into generative AI alongside its existing focus on Bitcoin (BTC) mining. The company expects the 248 GPUs to be delivered in the coming months and
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