Sustainable bitcoin mining: Elon Musk made the rate rise again with his tweet
Elon Musk only mentioned in his tweet about using renewable energy sources for cryptocurrency mining. And that caused the price of Bitcoin to go up about $2,000.
“Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising”, Musk wrote.
As it always happens with Musk’s tweets, it had an immediate effect on the crypto markets. Only after 15 minutes the price of Bitcoin had shot from around $38,000 to over $40,000.
The CEO of the software company MicroStrategy, Michael Saylor, said he led a meeting with Musk and Bitcoin mining companies. In this meeting these miners “have agreed to form the Bitcoin Mining Council to promote energy usage transparency & accelerate sustainability initiatives worldwide”.
Also, Peter Wall, the CEO of Argo, confirmed that Argo was a part of that meeting. “As a founding member of the Bitcoin Mining Council, Argo will push hard for sustainable mining and more transparency”, he said.