- Elon Musk and New York State legislators are raising concerns over Bitcoin mining's perceived fossil fuel consumption.
- However, I expect the crypto mining network to convert entirely to renewable energy much more rapidly than other industries precisely because it uses so much energy.
- Crypto mining may even help accelerate the deployment of renewable energy, which should please Musk and New York.
- Despite Musk’s flip-flop, demand for cryptos continues to boom, with trading on major crypto exchanges reaching an incredible $1.7 trillion in April.
For further details see:
Note To Elon Musk: Crypto Miners Are Part Of The Solution To Curbing Greenhouse Gas Emissions