Why does bitcoin use so much energy? | CNBC Explains

In mid-May 2021, billionaire Elon Musk sent a tweet that crashed the cryptocurrency market. The Tesla CEO announced the electric vehicle company would no longer accept bitcoin for purchases due to its huge energy consumption. So why does crypto-mining use so much electricity, and is there a sustainable alternative? CNBC's Nessa Anwar is joined by Ryan Browne to explain. ----- Subscribe to us on YouTube: Subscribe to CNBC International TV on YouTube: Like our Facebook page: Follow us on Instagram: Follow us on Twitter:
Wed, 16 Jun 2021 11:00:07 GMT
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