Tesla stops payment by Bitcoin because of the impact on the environment

Tesla stops payment by Bitcoin because of the impact on the environment

Tesla has halted the use of Bitcoin to pay for its vehicles because of the environmental impact of using the currency.

Bitcoin is created when high-powered computers compete against other machines to solve complex mathematical puzzles, a process known as mining, an energy-intensive activity that currently often relies on electricity generated with fossil fuels, particularly coal.

At current rates, such Bitcoin mining uses about the same amount of energy annually as the Netherlands did in 2019, according to data from the University of Cambridge and the International Energy Agency.