Elon Musk has met with offices from leading North. American bitcoin excavators to talk about worries over the business’ energy utilization. The move two or three weeks after Tesla, for which Musk fills in as CEO, suspended bitcoin installments.
At that point, the automaker said it was “worried about quickly expanding utilization of petroleum products for bitcoin mining and exchanges, particularly coal, which has the most noticeably terrible emanations of any fuel.”
Tesla purchased $ 1.5 billion worth of Bitcoin earlier this year to “diversify and maximize” its investment. Soon after that, in March, it began tolerating cryptographic money installments for its electric vehicles.
According to Musk, the miners are committed to publishing their current and planned energy use, and they will ask miners around the world to do the same.
Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.
— Elon Musk (@elonmusk) May 24, 2021
Michael Sailor (according to Forbes, the largest corporate holder of bitcoin) revealed on Twitter that he hosted the meeting and the participants agreed to form the Bitcoin Mining Council.
Yesterday I was pleased to host a meeting between @elonmusk & the leading Bitcoin miners in North America. The miners have agreed to form the Bitcoin Mining Council to promote energy usage transparency & accelerate sustainability initiatives worldwide. https://t.co/EHgLZ9zvDK
— Michael Saylor (@michael_saylor) May 24, 2021
The group aims to standardize and promote energy use transparency, set industry-wide targets and accelerate sustainability initiatives worldwide.
Companies to attend the meeting include Argo Blockchain, Blackcap, Core Scientific, Galaxy Digital, Hive Blockchain, Hut 8 Mining, Marathon Digital Holdings and Riot Blockchain.
While the group has not yet released details about its plans and goals, Argo Blockchain CEO Peter Wall told Forbes: “The newly formed Bitcoin Mining Council is the next logical step in promoting a regional shift to renewable energy. It is expected to join Michael Saylor and other leading North American miners in working for future-proof, collectively sustainable mining. Practices should improve and take ESG concerns seriously. “