Bitcoin Tesla

Musk: Tesla will resume accepting Bitcoin as payment after miners have reached 50% green levels.


Tesla CEO Elon Musk tweeted Sunday that the company will begin taking bitcoin (BTC, +4.43% ) as payment if the cryptocurrency’s power-hungry miners turn halfway green.

Musk called a halt to Tesla’s months-long cryptocurrency experiment in mid-May, citing environmental concerns. Tesla would begin permitting Bitcoin transactions “when there is confirmation of appropriate (50 percent ) clean energy consumption by miners with a favorable future trend,” he wrote in the tweet.

Musk hasn’t said how he’ll fact-check miners’ renewable energy consumption because there’s a lot of disagreement about where the sector is right now. Nonetheless, the remarks serve as a starting point for Tesla’s reintroduction of bitcoin payments. Musk’s tweet also reaffirms his justification of selling 10% of the electric car maker’s bitcoin holdings in Q1, implying that the business hasn’t sold any more.

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