Musk and Saylor form the Bitcoin Mining Council
Bitcoin’s massive use of energy has become a topic of discussion in recent weeks, with some companies and organizations suspending their acceptance of the cryptocurrency due to its environmental effects.To curb the problem, Tesla CEO Elon Musk and MicroStrategy CEO Michael Saylor have met with Bitcoin miners in North America to create the Bitcoin Mining Council. The council will see the leading miners commit to publishing current and planned renewable energy usage.
According to Saylor, the new body will promote energy usage transparency and accelerate sustainability initiatives worldwide.
Elon Musk first announced this via Twitter. He stated that “Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.”
Bitcoin Mining Council gets massive support
The Bitcoin Mining Council seems to have gotten good support so far from the cryptocurrency space. Saylor revealed that the meeting was attended by some companies such as Argo Blockchain, Hive Blockchain, Galaxy Digital, Block Cap and Hut8 Mining.Elon Musk has recently talked about Bitcoin’s use of energy, stating that it is not good for the environment. He made this known when he announced that Tesla had suspended Bitcoin payment options until the cryptocurrency becomes more sustainable.
However, some experts have come out to throw out Musk’s argument, arguing that Bitcoin mostly uses renewable energy. Some experts claim that using the non-renewable energy sources is not Bitcoin’s fault but of governments who are yet to massively adopt renewable energy.
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