Musk’s tweet keeps BTC price surpass 40k to carbon-neutral crypto mining

Musk’s tweet keeps BTC price surpass 40k to carbon-neutral crypto mining


Musk’s tweet keeps BTC price surpass 40k to carbon-neutral crypto mining

  • Elon Musk’s tweet on Sunday brings back the surge of bitcoin to over 40k.
  • Carbon neutral becomes the goal of the crypto miners this time. 

By Marielle Petere Wozinga Journalist

Tesla Inc. CEO Elon Musk brings back the surge of bitcoin to over 40k within a 24-hour trading volume, according to CoinMarketCap. It is due to his Sunday tweet. 

Interestingly, his green crypto mining advocacy seems as hope for struggling farmers to earn more through cow power.

As long as crypto miners could guarantee to use (~50%) clean energy, Musk is willing to resume the Bitcoin payment in purchasing electric vehicles of Tesla.

Musk's tweet: Manipulation?

In some scenarios, Musk’s tweet could immediately change the game. Favorable posts turn bullish; if the opposite happens, it flips to bearish.

Now, he owns the title Technoking. Due to his logic and tweets that impact Bitcoin price, some crypto investors criticize him.

Cointelegraph revealed how Musk reacted on Twitter regarding Magda Wierzycka, Chief Executive Officer of Sygnia.  Wierzycka called for the SEC to investigate him for the alleged manipulation in BTC price.

However, Musk stated that it was inaccurate. He even cited that Tesla only sold -10% of the holdings to verify the easy liquidity of bitcoin without moving market.

Despite the recent backlash against Technoking, his crypto market influence is visible. Reuters reported that eToro analyst Simon Peters commented, “Musk’s words caused bitcoin to surge.”

Carbon neutral crypto mining

Renewable energy and minimizing carbon footprint have become the goals of the crypto miners this time. A UK Metro news site noted the adaptation of cow dung as a carbon-neutral energy source for cryptocurrency mining.

In the UK, farmers earn additional income for producing energy for carbon-neutral crypto mining operations. The farmers generate electricity from manure and sell it to the National Grid.

Moreover, the National Grid is an operating firm that provides a high-voltage electricity transmission network in England and Wales.

Currently, the Easy Crypto Hunter is a UK-based firm that develops crypto mining hardware. The company joins the green energy crypto mining.

Crytonews mentioned that farmers could earn GBP 0.07 (USD 0.1) per kilowatt. Yet, the farmers could earn GBP 40 (USD 56.4) a day and some USD 21,000 a year.

Also, the computers of Easy Crypto Hunter can mine hundreds of various digital currencies.

Easy Crypto Hunter CEO Josh Riddett admitted: “Solar panel incentives have dwindled to virtually zero, but our machines are now providing those lost incentives.”

But, the firm declares that they do not mine Bitcoin. ‘”It’s a good idea for both the client and the green energy supplier, so a win-win all around,” Riddett added.

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