The North American Bitcoin mining industry has made an important move towards greater environmental sustainability with MicroStrategy’s Michael Saylor having organized a successful meeting that included Elon Musk and several prominent business leaders.
On Monday, Saylor and Musk both revealed to their Twitter followers that a Bitcoin Mining Council has been established following their lates high-level talks. Multiple top industry leaders take a seat in the council. They include representation from Argos Blockchain, Blockcap, Galaxy Digital, Hive Blockchain, Hut 8 Mining, Marathon Digital and Riot Blockchain.
Topping the council’s agenda is their drive to “promote energy usage transparency [and] accelerate sustainability initiatives worldwide.”
Furthermore, the newly formed group committed to take a leading role when it comes to environmental, social and corporate governance concerning Bitcoin mining, as well as educating the marketplace about how the mining process works.
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
https://platform.twitter.com/widgets.js
Argo Blockchain CEO Peter Wall confirmed that their firm was a founding member of the council
Great to be part of yesterday’s ground-breaking meeting led by @michaelsaylor with special guest @elonmusk, along with fellow miners. As a founding member of the Bitcoin Mining Council, Argo will push hard for sustainable mining and more transparency.
This is the way!#ARB https://t.co/503flx3X8v
— Peter Wall (@PeterGWall) May 24, 2021
https://platform.twitter.com/widgets.js
The council’s formation follows an intense week of corrections in the crypto and blockchain industry with Bitcoin dipping to the $30,000 level. This all happened amidst multiple factors coinciding.
While according to a study from scientific journal Nature Communications, China was dominating Bitcoin’s hashrate and processing power up to summer of last year, this is looking to radically shift. China’s imposition of a mining ban and tighter regulatory frameworks for crypto-related firms will not be without consequences.
The post Michael Saylor and Elon Musk power the newly formed Bitcoin Mining Council appeared first on iGaming.
Source: Igaming
