The Bitcoin logo. Photo: Jaap Arriens/NurPhoto via Getty Images

An interesting piece in Greentech Media explains why the price decline of Bitcoin and other cryptocurrencies "could have a silver lining in terms of global energy consumption," at least temporarily.

Why it matters: Digital Bitcoin "mining" and transactions mean the cryptocurrency has an energy problem, even if fears that it will cook the planet are overblown.

  • The Greentech story notes that as the price of the currency rises, so does the incentive to invest in more energy-hungry equipment to mine it.
  • "I’m not entirely sure what will happen to energy consumption net-net, but it will be very interesting to see how many miners drop out of the market in this downturn," Jesse Morris of the Energy Web Foundation says in the story.

What's next: Companies are looking at ways to make cryptocurrencies more environmentally sustainable.

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1 hour ago - World

U.S. policy shift will allow taxpayer funding for projects in West Bank settlements

Friedman (L) with Netanyahu. Photo: Menahem Kahana/AFP via Getty Images

The U.S. and Israel will announce tomorrow that they are expanding three agreements on scientific cooperation to include Israeli settlements in the West Bank, Israeli and U.S. officials tell me.

Why it matters: This is a substantial policy shift for the U.S., which did not previously allow its taxpayers' money to be spent in the Israeli settlements.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Obama: Trump is "jealous of COVID's media coverage" Axios-Ipsos poll: Federal response has only gotten worse.
  2. Health: Hospitals face a crush — 13 states set single-day case records last week.
  3. Business: Winter threat spurs new surge of startup activity.
  4. Media: Pandemic causes TV providers to lose the most subscribers ever.
  5. States: Nearly two dozen Minnesota cases traced to three Trump campaign events.
  6. World: Putin mandates face masks.

McConnell: Confirming Amy Coney Barrett will help GOP retain Senate

Photo: Samuel Corum/Getty Images

Senate Majority Leader Mitch McConnell (R-Ky.) expressed no regrets about Judge Amy Coney Barrett's controversial confirmation, telling Politico in an interview that he believes the decision to place her on the Supreme Court just a week before the election will help Republicans retain the Senate.

Why it matters: With a week to go until Election Day, many Republicans are concerned that President Trump's unpopularity could cost them the Senate. McConnell has long viewed the transformation of the federal judiciary through the confirmation of young conservative judges as his defining legacy.