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BTC Tanks as Tesla Suspends Sales Through BTC


Musk has clearly been doing more homework on the effects of Bitcoin on our planet, given just in March he d said Tesla was accepting Bitcoin as payment for the company s EVs.
Musk s recent post raises a number of questions regarding cryptocurrency mining, and just how bad it might be for the environment. 
If we compare different cryptocurrencies energy consumption, Dogecoin has been marked as the second-least power-hungry cryptocurrency, consuming 0.12 Kilowatt/hour (KWh) per transaction, as
Benziga reports. Compare that with Ethereum and Bitcoin that consume 62.56 KWh and 707 KWh per transaction, respectively, and you understand Musk s concern.
The environmental concerns around Bitcoin mining ....

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Mining Bitcoin With Natural Gas Could Reduce Energy Waste


Like the prospectors during the California gold rush of 1849, today s cryptocurrency miners seek gold from them thar hills, and this time those hills just happen to be in Wyoming.
Mining for cryptocurrencies, such as Bitcoin, Litecoin, and Dogecoin, doesn t require a pickax and a gold pan. Instead, cryptocurrency miners earn Bitcoin by verifying Bitcoin transactions, such as buying and selling.
How is Bitcoin mined?
In a process conceived by Bitcoin s anonymous founder, Satoshi Nakamoto, miners complete blocks of transactions on the
blockchain, which is an electronic ledger.
Bitcoin miners verify transactions, making sure that the same coin has not been bought or sold twice. The transactions are in 1 MB (megabyte) ....

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Orphaned South Dakota Gas Wells Could Soon Power Bitcoin Mining


3:59
Just when it looked like 40 orphaned natural-gas wells in northwestern South Dakota would finally be plugged, the story took a turn into the realm of cryptocurrency. 
A Texas company, Spyglass Cedar Creek, drilled the wells 15 years ago on the vast grasslands in the vicinity of Buffalo.  
South Dakota was stuck holding the bag after the project failed, because the state had only required the company to post about $30,000 in bonds. Last fall, the state hired a contractor to plug the wells for about $430,000. The contractor finished seven of the wells before pausing for the winter. 
Then, multiple companies expressed interest in the remaining wells. So the state put the mineral rights associated with seven of the un-plugged wells up for a lease auction last month. A Wyoming company, Highwire Energy Partners, won the leases for $58,640.   ....

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