Bitcoin Price Dips Back Under $8K as Top Cryptos See Moderate Losses

[koorper]

As Cointelegraph reported yesterday, cryptocurrency investment products and research firm CoinShares estimates that 74.1% of bitcoin mining is powered by renewable energy in its bi-annual mining report.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands just under $26 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $17.3 billion at press time.

CoinMarketCap data shows that ETH has seen its value decrease by about 3.5% over the last 24 hours. At press time, ETH is trading around $244. On the week, the coin has also lost over 8.6% of its value.

Bitcoin Price Dips Back Under $8K as Top Cryptos See Moderate Losses

 

[The CC Forums]

The percentage of mining done with renewable energy is down from 77% though. Countries with large sources of renewable energy should encourage miners to set up there.

Iceland fits that, but at one point the government was considering putting surcharges on crypto miners. I don’t know if they followed through.

But it would seem countries would want to attract new business rather than discourage it.