North American Miners Team Up to Create Bitcoin Mining Council With Elon Musk
Elon Musk, CEO of Tesla and SpaceX, has announced on his Twitter profile that he has been speaking with North American miners to make crypto mining greener:
The news comes following to Tesla’s recent decision to halt BTC payments due to the environmental impact of the asset’s mining. The currency is based on the proof-of-work consensus algorithm, meaning that its network needs a lot of energy to work. As a result, Tesla, which makes electric cars, has preferred to step back on its decision to accept BTC payments.
According to Musk, North American miners have decided to form what they have called the Bitcoin Mining Council. Now, all the mining companies involved have committed to report on their current and planned renewable usage.
Maybe this is the first step to leave behind fossil fuels and adopt renewable sources of energy.