# 1.1. Current Challenges

* *By Elon Musk's account, climate concerns disqualify Tesla from accepting Bitcoin.*
* *Tesla CEO Elon Musk said the company will resume bitcoin transactions once it confirms there is a reasonable clean energy usage by miners.*

![Elon Musk's Disclaimer](/files/ugaSCaNuK0ja2WOf90JZ)

* *Bitcoin cryptocurrency consumes more electricity than the entire annual energy consumption of the Netherlands, Cambridge University researchers state.*
* *Bitcoin has a carbon footprint comparable to that of New Zealand, producing 36.95 megatons of CO2 annually, according to Digiconomist.*

*The Independent: “*[*Bitcoin's carbon footprint will get exponentially worse because the more its price rises, the more competition there is for the currency and thus the more energy it consumes.*](https://www.independent.co.uk/climate-change/news/bitcoin-cryptocurrency-bad-mining-environment-b2041420.html)*”*


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