Forget Bitcoin: Dogecoin, Ethereum, and Cardano Have Lower Mining Costs! Image source: Getty Images The cryptocurrency markets have taken a beating after Elon Musk tweeted about Bitcoin’s high mining costs. The price of one Bitcoin has fallen by 30% at the time of writing. Comparatively, Ethereum, which is the second-largest cryptocurrency in terms of market cap, is also down 25% from all-time highs. Musk had tweeted, “We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment.”