Business
Elon Musk continues to toy with bitcoin price as he backs miners going green – Sydney Morning Herald
Elon Musk continued to toy with the price of bitcoin, taking to Twitter to indicate support for what he says is an effort by miners to make their operations greener….
Energy usage – a long-known problem – had not seemed to bother Musk as he hyped crypto and earlier this year plowed $US1.5 billion of Teslas corporate cash into it. Miners use hundreds of computers that run around the clock to verify Bitcoin transactions in exchange for new coins. While some have hooked into energy sources powered by hydroelectric dams or solar and wind farms, much of the power comes from coal-fired plants.
Musks tweet criticising the energy usage sent bitcoin tumbling the most…
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