Elon Musk to help crypto miners form Bitcoin Mining Council

0
90

[ad_1]



After giving a massive jolt to the fans, Tesla CEO has now come forward to help form a Mining Council that will promote energy usage transparency” and “accelerate sustainability initiatives worldwide.”


Musk earlier announced not to use the popular as a payment mode to buy its electric vehicles, citing environmental harm.



He said last week that the electric car maker will not sell any and intends to use bitcoin for transactions as soon as mining moves to more sustainable energy.


Now, Musk has met leading Bitcoin miners in North America to form a Bitcoin Mining Council.


“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,” MicroStrategy (a business intelligence company) CEO Michael Saylor said in tweet late on Monday.


Musk replied early on Tuesday: “Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising”.


Argo Blockchain CEO Peter Wall tweeted that “as a founding member of the Bitcoin Mining Council, Argo will push hard for sustainable mining and more transparency”.


After applying brakes on Bitcoin as a payment mode to buy Tesla vehicles, Musk has also revealed that he might create his own in the near future.


Tesla had only just started accepting Bitcoin in late March.


Musk has said that Tesla will no longer sell any more of the $1.5 billion Bitcoins it purchased earlier this year.


–IANS


na/

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor



[ad_2]

LEAVE A REPLY

Please enter your comment!
Please enter your name here