North America’s Bitcoin mining industry appears to be moving towards greater environmental sustainability after MicroStrategy CEO Michael Saylor brokered a successful meeting between Elon Musk and several industry leaders.
Saylor and Musk both revealed Monday that the Bitcoin Mining Council has been established following the high-level talks. The Council is made up of several industry leaders, including Argos Blockchain, Blockcap, Galaxy Digital, Hive Blockchain, Hut 8 Mining, Marathon Digital and Riot Blockchain. They’ve all agreed to “promote energy usage transparency [and] accelerate sustainability initiatives worldwide,” Saylor tweeted Monday afternoon.
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
Musk added: “Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.”
The Bitcoin price appears to have rallied sharply after the announcement circulated. BTC reached an intraday high of $39,960.00, building off earlier gains.