Jun 22, 2021,08:00am EDT|6,348 views

Is This The Surprise Solution To Tesla Billionaire Elon Musk’s Bitcoin Nightmare?

Billy Bambrough

Senior Contributor

Crypto & Blockchain

I write about how bitcoin, crypto and blockchain can change the world.

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Tesla billionaire Elon Musk has rocked the bitcoin community in recent months; first by jumping headfirst into crypto at the beginning of the year and then suspending Tesla's support of bitcoin payments.

The bitcoin price has yo-yoed as a result of Musk's flip-flopping, now down around 50% from its April highs. Musk pulled the plug on Tesla's bitcoin payments due to bitcoin's eye-watering carbon footprint but said the electric car company will continue to hold the $1.5 billion worth of bitcoin it bought in late January, vowing to help fix bitcoin's sky-high energy demands—but so far failing to pull Tesla's bitcoin investment out of the red.

Now, Pennsylvania-based Stronghold Digital Mining, a bitcoin and cryptocurrency miner that uses waste coal to power the machines that secure the bitcoin network and validate transactions in return for freshly-minted bitcoin tokens, has raised $105 million from investors to build out its operation.

Original post:  https://www.forbes.com/sites/billybambrough/2021/06/22/is-this-the-surprise-solution-to-tesla-billionaire-elon-musks-bitcoin-nightmare/?sh=2a5ace4f5ecd