Elon Musk and North American miners form a committee to promote transparency in the energy issue of Bitcoin mining
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May 25, 2021It is reported that Tesla and MicroStrategy CEOs of the United States, including Bitcoin (BTC) on their balance sheet, have met with North American mining (mining) companies and agreed to promote energy consumption transparency. Coinpost reported this on the 25th.
Tesla’s Elon Musk and MicroStrategy’s Michael Sailor report meetings with North American miners.
Musk said, “I had a conversation with a minor in North America. Companies said they would release reports on current energy consumption and plans for future use of renewable energy. It will be a move you can expect.”
Sailor said, “I’m very pleased to have Musk participate. The miners at the meeting agreed to form a Bitcoin mining committee to promote transparency in energy consumption and accelerate global sustainable initiatives.”
The companies attending the conference are major mining companies such as Argo Blockchain, Blockcap, Core Scientific, Galaxy Digital, Hive Blockchain, Hut8mining, Marathon, and Riot Blockchain. In the future, it will educate market participants and grow the marketplace with the goal of’ESG’, which is the goal of long-term growth of environment, social, and governance by setting reporting standards for energy consumption.
Galaxy Digital CEO Novograz said, “Thank you for hosting this meeting. And I am grateful that Musk also participated and listened.”
In the background of this North American Minor Joint Conference, Tesla recently stopped paying through bitcoin due to mining energy consumption. Since Tesla’s announcement, the controversy over the energy consumption environment of Bitcoin and other PoW-based stocks has grown stronger than before. The news was wary, saying that it affects the strategy related to bitcoin held by U.S. listed companies such as Tesla, MicroStrategy, and Square.
In subsequent statements, Musk or Sailor made it clear that Bitcoin was not sold.
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Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.
