Centralization, what centralization? Elon Musk has been busy lately after his Bitcoin betrayal. The Tesla CEO has spoken with Bitcoin miners in North America, urging them to form the Bitcoin Mining Council.
The idea behind this new organization being to promote renewable energy usage, transparency and accelerate sustainability initiatives worldwide.
Elon Musk announced on Twitter that he had spoken with Bitcoin miners:
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
MicroStrategy CEO Michael Saylor hosted the meeting, and he immediately tweeted explaining:
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
Saylor proceeded to say that the meeting included executives from Argo Blockchain, Blackcap, Core Scientific, Galaxy Digital, Hive Blockchain, Hut 8 Mining, and Riot Blockchain — basically, the biggest names in the mining space in North America.
According to the MicroStrategy CEO, the executives present at the meeting have decided to establish an organization to standardize energy reporting, pursues industry ESG goals, as well as educate and grow the marketplace.
Now, Bitcoin purists may see this development as being counter to the original goals of the cryptocurrency revolution.
But the crypto space has been under intense criticism from many a circle, with environmental advocates highlighting the extreme energy usage of these blockchain networks. Bitcoin, in particular, is a gift that keeps on giving when it comes to energy consumption.
Moving to greener sources, and promoting renewable energy usage becomes paramount for mainstream adoption of these digital coins.
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