Monday, May 16 2022 | Time 21:01 Hrs(IST)
Business Economy

Mozilla pauses accepting crypto donations

New Delhi, Jan 7 (UNI) Following backlash the Mozilla Foundation has paused accepting donations in cryptocurrencies.
The organisation that looks after the Firefox browser tweeted: "Last week, we tweeted a reminder that Mozilla accepts cryptocurrency donations. This led to an important discussion about cryptocurrency’s environmental impact. We’re listening, and taking action."
"Decentralized web technology continues to be an important area for us to explore, but a lot has changed since we started accepting crypto donations."
"So, starting today we are reviewing if and how our current policy on crypto donations fits with our climate goals. And as we conduct our review, we will pause the ability to donate cryptocurrency."
Cryptocurrency mining is said to be a power-intensive process.
According to a report published in The New York Times, "The process of creating Bitcoin to spend or trade consumes around 91 terawatt-hours of electricity annually, more than used by Finland, a nation of about 5.5 million."
In May last year, Tesla suspended accepting bitcoin as payment for its vehicles, just months after introducing the option.
Tesla founder Elon Musk said the company intends to use it for transactions "as soon as mining transitions to more sustainable energy".
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