New Heaven(s) and New Earth

Before I get started on my topic this time, I just want to say for the past several months, possibly a couple of years, I have been discovering how much I have been missing. I was raised to believe the KJV was the only version of the Bible. I actually didn’t even know it wasn’t the original Bible until I was in my late teens and learned it had gone through several translations to get what it is. I was always told I should read and study my Bible but because I had no clue what KJV said, I didn’t read it. Now I have found it is ok to read other versions that are in plain easy to understand English. Caution needs to be taken though for accuracy. Some versions are better than others. If you are one that loves KJV and you understand what it says, then read it, if not, find one you can understand and start reading. I have discovered after over 30 years attending churches, there are a lot of things in the Bible that I never knew existed. There are doctrines and theology that is never taught in church or Sunday school, that if you don’t read your Bible and study it for yourself you will be like me and miss out.
Now for the subject at hand. This week I began reading a commentary on the book of Hebrews. (It is one of those books that is often overlooked except for chapter 11, known as the faith chapter). Reading through the commentary I found myself checking out some of the references and reading different versions to determine how the author of the commentary came up with his idea of what it meant. I didn’t get far before I got stuck. In the first chapter it refers to Heaven and Earth. I discovered there are different meanings throughout scripture when it refers to the Heavens and the Earth and a New Heaven and a New Earth. Every verse has to be read and understood within the context it is written. A google search of “what does New Heaven and New Earth mean in the Bible?” returns results for 2 different opinions. I am looking to find for myself if possible which interpretation is correct. First there are those that believe that one day literally there will be a New Heaven and a New Earth because Heaven and Earth as we now know it will pass away. The other belief is that it is not actually referring to a physical new Heaven and Earth, but they actually refer to the old covenant and the new covenant. The main verse that is presented for either side, (at least that I have found so far) is Matthew 24:34-35. Those that believe a literal new Heaven and new Earth believe Jesus is speaking of end times. Those that believe it is old and new covenant believe this came to pass on 70AD when Jerusalem was destroyed. That was the final remnant of Israel and the old covenant of the Law was completely fulfilled. I can easily see both ways, because within the chapter Jesus is talking about when the Son of Man comes again, which to me seems like the second coming or end times. However, the phrase in verse 34 which says this generation shall not pass really sounds like it refers to those Jesus is speaking to there at that time. If that is true it has to be referring to covenants not physical Heaven and Earth. However, everything about the Son of Man coming on clouds of glory doesn’t make sense. As far as I know that hasn’t happened yet.
From what I understand those that believe it refers to Old and New Covenants believe that is the interpretation throughout scripture when it refers to Heaven(s) and Earth. I am in the process of studying each instance I can find to see what makes sense. I have not gotten far yet. I did find one other verse that I have to study further in Leviticus 26:19 it says “your Heaven will be like iron and your Earth will be like bronze” That doesn’t sound like it is referring to literal heaven and earth, but I still have to read further to understand.
While I am trying to figure this all out for myself, I would appreciate any comments or feedback on what you believe it to mean and why. Provide scripture references, and explain why you interpret them the way you do.