Tesla To Use Solar Energy To Mine Bitcoin; Ethereum, Shiba Inu Fall 3%

Tesla, the world’s most valuable electric car maker, Block Inc, a payments firm, and Blockstream Corp, a blockchain technology company, have announced a new collaboration that will use solar energy to mine Bitcoin (BTC).

In other news, Rare Air Media, producer of Michael Jordan’s autobiography ‘For the Love of the Game’, reportedly partnered up with VSA Partners to create and develop several non-fungible tokens (NFTs) featuring Michael Jordan, former National Basketball Champion.

Cryptocurrency Prices

The global crypto market cap decreased by 2.78 per cent to $1.95 trillion at 8.50 am. However, the global crypto volume was up by 16.54 per cent to $64.94 billion, as per Coinmarketcap data. 

BTC, the world’s oldest cryptocurrency, was trading at $41,954.23, lower by 2.03 per cent in the last 24 hours. Ethereum (ETH) was also trading lower by 2.81 per cent at $3,169.66.

Among other major coins, Cardano (ADA) was down by 4.55 per cent at $1, Algorand (ALGO) was trading with a loss of 5.03 per cent at $0.7452, Binance Coin (BNB) was down by 3.49 per cent at $412.42, Solana (SOL) was also down by 4.2 per cent at $108.84, and Polkadot (DOT) was also trading with a loss of 5.52 per cent at $18.84.

Today’s top gainer was Goblin (Goblin), which was up by 1184.23 per cent at $0.00000001456. The top loser was Shiba Hunter
(FALQOM), which was down by 68.63 per cent at $0.000001498.

Meme Coin And DeFi Prices

Dogecoin (DOGE) was down by 2.99 per cent at $0.1466. Its volume to market cap ratio stands at 0.09394. Rival Shiba Inu (SHIB) was down by 3.02 per cent at $0.00002424.
Dogelon Mars (ELON) lost 7.2 per cent to trade at $0.0000008428, Floki Inu (FLOKI) was, however, up by 2.65 per cent at $0.00003128, and Samoyed Coin (SAMO) was down by 0.86 per cent at $0.01872. 

In the DeFi segment, YFI (yearn.finance) was trading with a loss of 4.65 per cent at $19,715.87. However, Terra (LUNA) crashed by 8.46 per cent to $88.33. Avalanche (AVAX) too lost 7.83 per cent at $78.52, Uniswap (UNI) was also down by 4.11 per cent to trade at $9.69 and Aave (AAVE) by 6.38 per cent to trade at $172.22.
 

Latest Updates

Once this new crypto mining using solar energy project by Tesla, Block, Blockstream is fully up and running, it will result in 3.8 Megawatts of solar renewable power and a 30 Petahash rate of Bitcoin. “Weʼre excited to start the construction of this facility using Tesla Solar and Megapack. This is a step to proving our thesis that Bitcoin mining can fund zero-emission power infrastructure and build economic growth for the future,” said Adam Back, CEO and co-founder, Blockstream, reported Bloomberg.

These NFTs will be developed on the XRP Ledger (Ripple) blockchain and will be released by Q2 2022. Mark Vancil, founder and CEO, Rare Air Media, said, “Original, high-quality NFTs are a natural fit for a company that has worked with icons across sport and music for the past 29 years. VSA’s reputation for excellence, innovation, and creative expertise is the perfect partner to make it all happen. I see the digital asset space becoming a valuable revenue stream for our team in the years to come,” reported Reelchicago.