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Musk changes his mind: Apparently Tesla won't accept Bitcoin after all

Musk changes his mind: Apparently Tesla won't accept Bitcoin after all

David Crowther

This week Elon Musk announced that Tesla would not, in fact, be accepting Bitcoin as payment for Tesla cars, citing concerns over how much energy Bitcoin mining uses. For those keeping score this announcement comes only 3 months after Musk announced that Tesla would accept Bitcoin.

According to estimates from Cambridge University, Bitcoin does indeed use an enormous amount of energy — about 150TwH annually according to their estimate. Were Bitcoin a country it would rank 25th in energy consumption, ahead of Egypt, Sweden and Pakistan to name but a few countries.

‍Why is Bitcoin so energy intensive?

‍For those unfamiliar with the process, in order to get new Bitcoin, computers are tasked with authenticating Bitcoin transactions, and their reward for doing so is the possibility of receiving some Bitcoin themselves. The way these transactions are authenticated is essentially by solving lots and lots of mathematical puzzles — with entire warehouses of electricity-hungry computers being tasked to solve them.

Musk's concerns about Bitcoin have merit. The strange thing is that his concerns were arguably similarly valid back in February. What changed, Elon?

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business
Max Knoblauch

Less than a year after implementing them, Southwest is also hiking its bag fees

Southwest Airlines has joined the growing list of airlines opting to hike their bag fees amid sustained higher jet fuel costs.

Starting today, the first checked bag at the carrier — which implemented bag fees less than a year ago — will jump from $35 to $45, and the second from $45 to $55. Southwest quietly disclosed the change Tuesday.

Southwest assigned the decision to “part of an ongoing analysis of the business and against the evolving global backdrop.”

As of Wednesday, jet fuel prices dropped to $4.16 a gallon per the Argus US Jet Fuel Index, down from $4.81 on Tuesday amid President Trump’s ceasefire announcement that sent travel stocks soaring. Major airlines have shed some of those gains in premarket trading Thursday.

With the move to hike bag fees, Southwest joinsJetBlue, United Airlines, Delta Air Lines, and Canada’s WestJet, all of which also boosted fees this month. Experts expect more major carriers to follow, and potentially tweak the pricing of other ancillary revenue sources like seat assignments and carry-on luggage.

Three US airlines have already hiked baggage fees. More are likely on the way.

Three US airlines have already hiked baggage fees. More are likely on the way.

Southwest assigned the decision to “part of an ongoing analysis of the business and against the evolving global backdrop.”

As of Wednesday, jet fuel prices dropped to $4.16 a gallon per the Argus US Jet Fuel Index, down from $4.81 on Tuesday amid President Trump’s ceasefire announcement that sent travel stocks soaring. Major airlines have shed some of those gains in premarket trading Thursday.

With the move to hike bag fees, Southwest joinsJetBlue, United Airlines, Delta Air Lines, and Canada’s WestJet, all of which also boosted fees this month. Experts expect more major carriers to follow, and potentially tweak the pricing of other ancillary revenue sources like seat assignments and carry-on luggage.

Claire Yubin Oh
21h
Music record companies love being “artist-centric” — but how much do they pay out to artists?

On Tuesday, Pershing Square made a $64 billion bid to buy Universal Music Group.

In this photo illustration, the Universal Music Group logo
Mounjaro KwikPen Photo Illustrations

Eli Lilly makes the world’s bestselling drug. Can it keep the party going?

Some are starting to worry that Lilly, which for a short time vaulted into the trillion-dollar market cap club, may have hit a plateau.

J. Edward Moreno21h
Max Knoblauch
4/7/26
Check, please

WE
CAN’T
CARRY
ON
LIKE
THIS

business
Max Knoblauch

Delta to increase bag fees by $10 on domestic flights this week, following JetBlue and United, as jet fuel surges

As the price of jet fuel surges amid the war in Iran, Delta Air Lines on Tuesday announced that it will hike its checked bag fees by $10 beginning this week.

Checking one bag on a domestic Delta flight will now cost $45, up from $35. A second bag will cost $55, up from $45, and a third will cost $200, up from $150. In a statement to Sherwood News, Delta issued the following announcement:

“For tickets purchased on or after April 8, Delta will increase fees for first and second checked bags by $10 and for a third checked bag by $50 on domestic and select short-haul international routes. These updates are part of Delta’s ongoing review of pricing across its business and reflect the impact of evolving global conditions and industry dynamics. Delta SkyMiles Medallion Members; customers traveling in First Class, Delta Premium Select and Delta One; active-duty military customers; and those with eligible co-branded Delta SkyMiles American Express Cards will continue to receive their allotment of complimentary checked bags.”

The move follows similar hikes by JetBlue and United Airlines last week. More are likely to come: when one major airline adjusts its fees, others tend to follow quickly behind. Delta last raised its bag fees in 2024, along with other major airlines.

Jet fuel prices were $4.69 a gallon on Monday, per the Argus US Jet Fuel Index. That’s up from the low $2 range for much of January.

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