Elon Musk’s efforts yielded results: Bitcoin Mining Council established

North America’s Bitcoin (BTC) mining industry looks set to move towards more environmentally sustainable methods after MicroStrategy CEO Michael Saylor mediated between Elon Musk and some of the industry’s leading leaders.

Saylor and Musk announced the establishment of the Bitcoin Mining Council after the talks. The council consists of leading names in the industry such as Argos Blockchain, Blockcap, Galaxy Digital, Hive Blockchain, Hut 8 Mining, Marathon Digital and Riot Blockchain. According to Saylor’s statement on Monday, these companies have agreed to promote transparency of energy consumption and increase sustainable initiatives around the world.

Saylor said the new council will pursue broader environmental, social and managerial goals regarding Bitcoin mining, as well as educate the market on how the mining process works. stated.

Musk, who made the first statement about the interviews stated that: “I talked to North American Bitcoin miners. They agreed to use renewable energy and demand it from other miners around the world. It offers hope.”

Bitcoin, which started the rally after the news, rose to $ 39,960 in the last 24 hours. BTC is trading at around $38,500 as of the time of translation.

Tesla recently announced that it is suspending BTC payments due to the harmful effects of Bitcoin mining on the environment, triggering one of the biggest corrections in the history of crypto money.

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