This Data in Bitcoin Has Reached the Level Desired by Elon Musk! Will Tesla Accept Payments Again in BTC?

According to The Block, Bitcoin mining has reached 52.4% sustainable energy usage, surpassing the threshold of Tesla CEO Elon Musk.

According to a report prepared by Cambridge University, the sustainable energy usage in Bitcoin (BTC) mining increased from 37.6% in 2022 to 52.4%.

This figure exceeds the 50% threshold announced by Elon Musk for Tesla to allow payments with Bitcoin again. However, Tesla has not yet opened the option to pay with BTC for electric vehicle sales.

The report states that 9.8% of sustainable energy usage comes from nuclear, while 42.6% is derived from renewable sources such as wind and hydroelectric.

The report also noted that the transition from coal to natural gas as the primary energy source for Bitcoin mining, with natural gas replacing coal as the largest energy source used in BTC mining.

According to the data, natural gas usage increased from 25% in 2022 to 38.2%, while coal usage fell from 36.6% to 8.9% in the same period.

Will Tesla Accept Bitcoin Payments Again?

In the early months of 2021, Tesla announced that it would accept Bitcoin as a payment method for electric vehicles in its U.S. stores and would later roll it out globally. However, Musk later announced that Tesla would suspend vehicle purchases using BTC due to concerns about the environmental impact of mining.

Tesla stated that it will hold its BTC and will resume purchases with BTC as soon as mining transitions to more sustainable energy sources.

Musk said, “If the reasonable usage of clean energy is confirmed by a positive future trend, Tesla will continue to allow Bitcoin transactions”. However, it still has not opened the Bitcoin payment option.