Backstage: Will Elon Musk get into the Bitcoin mining business?

Can Elon Musk, who has made significant changes in the automobile industry, transform Bitcoin and make it more environmentally friendly? The conjuncture is moving in that direction.

Elon Musk is preparing to transform Bitcoin!

Electric cars are becoming more common day by day thanks to Tesla, and over time, fossil fuel looks like it will replace. Due to the limited supply of fossil fuels, it is not an economically sustainable and efficient energy source.. By 2050, there will be serious decreases in the supply of fossil fuels (gasoline and diesel).. For this reason, technology giants are already working on sustainable and renewable energy sources.

Tesla and other electric vehicles are already taking precautions against energy shortages in the future.. On the basis of countries, the preparation in this direction draws attention: There are also important developments in Germany, which is the leader in the automobile industry.. With a decision taken by the German parliament, it completely bans the use of gasoline and diesel vehicles in Germany as of 2030.

The change and trend in energy in the world is as explained above.. In the cryptocurrency markets, Ethereum, Cardano and a group of other blockchains are transitioning from a PoW system to a PoS system.. We can compare the PoW system to car engines running on gasoline and diesel.. It costs more and harms the environment. The PoS system, on the other hand, is more technological and environmentally friendly.

Unfortunately, there is no change and R&D activity around Bitcoin as in Ethereum and other cryptocurrencies.. Currently, the Bitcoin blockchain continues to operate on the PoW system.. In the PoW system, the Bitcoin blockchain resides in Austria’s electricity consumption, which corresponds to the annual energy cost.

Please See: Berlin hardfork empowered Ethereum bulls!


Recently, the Chinese government started to ban Bitcoin mining activities in the country. Bitcoin mining is concentrated in China by 60%. China’s ban on Bitcoin mining could present an opportunity. New mining pools can be developed in North America with more environmentally friendly methods.

Elon Musk’s tweet to be read in this context created excitement. Elon Musk stated that he met with Bitcoin miners operating in North America and is working on more environmentally friendly methods in this regard.

What do you think, maybe Elon Musk could go into Bitcoin mining himself ?


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