Bitcoin clean energy usage rate exceeds 50%

Elon Musk said in 2021 that Tesla would accept Bitcoin payments once miners use about 50% clean energy sources “with positive future trend”. On September 14, Bloomberg analyst Jamie Coutts said on the X platform (formerly Twitter) that Bitcoin’s clean energy usage rate exceeded 50%, carbon emissions dropped, and the hash rate increased significantly. Coutts said the push for renewable energy is driven in part by the exodus of miners from China following a mining ban that began in 2021, as well as a shift by some countries to mining models that monetize stranded and excess energy. Coutts said the push for renewable energy is driven in part by the exodus of miners from China following a mining ban that began in 2021, as well as a shift by some countries to mining models that monetize stranded and excess energy. Currently, countries investing in BTC mining include El Salvador, Bhutan, Oman and the United Arab Emirates. A 50% energy benchmark could mean significant action from Tesla. Given that Tesla previously allowed Bitcoin payments to set off a surge in prices, crypto investors will be paying close attention to this event. It is expected to become another major catalyst for the return of the bull market in addition to the Bitcoin spot ETF.