Skip to main content

Elon Musk Says Spacex Will Keep Funding Ukraine for Free Even Though Starlink Is Losing Money — $80M Spent so Far

Elon Musk Says Spacex Will Keep Funding Ukraine for Free Even Though Starlink Is Losing Money — $80 Million Spent so Far

Spacex CEO Elon Musk says that his company will “keep funding” the government of Ukraine for free even though Starlink is losing money, noting that it has cost Spacex $80 million so far to provide internet terminals and services to Ukraine. “We’ve also had to defend against cyberattacks and jamming, which are getting harder,” Musk stressed.

We’ll Keep Funding Ukraine for Free, Says Musk

Spacex has been sending Starlink internet terminals and providing services to Ukraine since the onset of the Russia-Ukraine war. At the request of the government of Ukraine, Musk began supplying the country with Starlink internet terminals in February.

However, Spacex’s director of government sales reportedly sent a letter to the Pentagon in September, stating that the company is not “in a position to further donate terminals to Ukraine, or fund the existing terminals for an indefinite period of time.” The Pentagon reportedly confirmed they received correspondence from Spacex about the funding of the Starlink satellite communications product in Ukraine.

Musk tweeted on Oct. 7 explaining that “only a small percentage” of the Starlink terminals and services in Ukraine were paid for. The Spacex chief revealed:

This operation has cost Spacex $80M & will exceed $100M by end of year.

Replying to a question on Twitter about how much Spacex is spending “for maintaining Starlink in Ukraine,” Musk detailed: “In addition to terminals, we have to create, launch, maintain & replenish satellites & ground stations & pay telcos for access to [the] internet via gateways. We’ve also had to defend against cyberattacks and jamming, which are getting harder. Burn is approaching ~$20M/month.”

Musk also shared in a tweet on Oct. 9: “There are ~25k terminals in Ukraine, but each terminal can be used to provide an internet uplink to a cell phone tower, so potentially several thousand people can be served by a single terminal.”

Commenting on Spacex being unable to keep providing free products and services to Ukraine, Twitter user and Tesla investor Sawyer Merritt opined: “Spacex’s request is reasonable. Shouldn’t expect a private sector company to continue to fund this for free forever. Do Lockheed, Boeing, Northrop, etc do their work for free? Spacex was generous in donating what they did and they’ll happily continue to manufacture terminals with government money.”

However, some people slammed Musk over his company’s letter to the Pentagon. Musk then tweeted Saturday: “The hell with it … even though Starlink is still losing money & other companies are getting billions of taxpayer $, we’ll just keep funding Ukraine govt for free.”

Elon Musk Says Spacex Will Keep Funding Ukraine for Free Even Though Starlink Is Losing Money — $80M Spent so Far

It was not immediately clear whether the Tesla CEO was being sarcastic or whether Spacex intends to continue providing free products and services to Ukraine. Responding to a tweet about the move, Musk clarified: “we should still do good deeds.”

Musk explained on Oct. 14 that there is a “big difference” between peace communications and warfront communications. “Starlink is [the] only comms system still working at warfront — others [are] all dead. Russia is actively trying to kill Starlink. To safeguard, Spacex has diverted massive resources toward defense. Even so, Starlink may still die,” he cautioned. The Spacex boss described in a follow-up tweet: “Internet fiber, phone lines, cell towers & other space-based comms in war areas have been destroyed. Starlink is all that’s left. For now.”

Mykhailo Fedorov, Ukraine’s vice prime minister and the minister of digital transformation, tweeted on Oct. 14: “Definitely, Elon Musk is among the world’s top private donors supporting Ukraine. Starlink is an essential element of our critical infrastructure.” He also shared on Oct. 12:

Over 100 cruise missiles attacked energy and communications infrastructure. But with Starlink we quickly restored the connection in critical areas. Starlink continues to be an essential part of critical infrastructure.

Do you think Spacex and Elon Musk should continue to pay for the Starlink terminals and services in Ukraine even though they are losing money? Let us know in the comments section below.



from Bitcoin News https://ift.tt/OSdAQb4

Comments

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...

DefiDollar Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC. DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification. DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens. DFD is the n...