Elon Musk is wrong about bitcoin mining sustainability: VBit CEO

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Elon Musk is wrong about bitcoin mining sustainability: VBit CEO

Tesla (TSLA) CEO Elon Musk recently spoke out regarding the energy consumption of bitcoin (BTC-USD) and other cryptocurrency mining operations, questioning the sustainability of current levels of power consumption and emphasizing the importance of adopting renewable energy sources. 

However, Don Vo, CEO of VBit Technologies, told Yahoo Finance Live that he believes Musk is wrong about the issue.

“I think Elon Musk is wrong, or maybe he's just setting up a story for his front and his future endeavors into the bitcoin mining space,” Vo said. “But the truth—the reality is most bitcoin mining data centers are actually using renewable energy. Like VBit's data centers, we're using hydroelectric power.”

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