Bitcoin, Crypto Mining News

Elon Musk Conference with U.S. Crypto Miners – ‘Potentially Promising’

Tesla Business magnate Elon Musk stated that he had a conference with prominent Bitcoin (BTC) miners from the US. He confirmed that they are committed to renewable energy usage; inspiring other crypto miners worldwide to follow in their lead. 

Elon Musk named this meeting “potentially promising.”

Microstrategy founder and CEO Michael Saylor announced in a tweet on Monday that he is the one that hosted the meeting between Musk and the US’ BTC miners on May 23. The crypto miners agreed to create the Bitcoin Mining Council after the closed-door session. 

The Council includes industry leaders like Marathon Digital, HIVE Blockchain, Hut 8 Mining, Galaxy Digital, Argos Blockchain, Blockcap, and Riot Blockchain. These US-based crypto mining firms have all accepted to “promote energy usage transparency and accelerate sustainability initiatives worldwide.”

In February this year, Tesla bought a monstrous $1.5 billion in Bitcoin. After that, they advertised that it would also start taking Bitcoin as payment for its electric cars. Unfortunately, earlier this month, the automotive company stopped Bitcoin payments due to ecological matters.

elon musk

The bearish news burned an extensive capitulation experience in the crypto markets that increased momentum last week. It continued through the previous weekend. The dominant cryptocurrency dived around $31K on Sunday. Saylor announced that his enterprise software company had boosted its Bitcoin treasury with a new $10 million investment notwithstanding the crypto market collapse.

The price of Bitcoin rebounded this week over $2,000 to near $40,000 after the news of Musk’s successful meeting with North American crypto miners. Only time will tell if the newly-formed Bitcoin Mining Council will do anything significant about the influence of bitcoin mining on the environment. Although, it already had a striking effect on the eccentric billionaire — and the BTC price as a result.

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