Elon Musk is right: Bitcoin mining is bad for the planet. Here's how bad

Elon Musk is right: Bitcoin mining is bad for the planet. Here’s how bad
Fortune
5/13/2021
© Wire photography: Jakub Porzycki/NurPhoto via Getty Images
Late on Wednesday, Elon Musk went back on his previous decision to let buyers pay for [hotlink]Tesla[/hotlink] cars using Bitcoin. His reason: mining the digital currency is causing a heavy toll on the environment.
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The Tesla CEO's reversal, made on [hotlink]Twitter[/hotlink], led to a steep fall in the value of Bitcoin, with over $365 billion in market value wiped off BTC at one point on Thursday.
Cue outrage from Bitcoin bulls. “All of a sudden, he’s not so keen due to environmental concerns. But why now?" fumed Nigel Green, CEO of the financial advisor, deVere Group, a noted cryptocurrency booster. "Those issues surrounding the environmental impact have not come up in the last few months."

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