{"id":16355,"date":"2021-05-25T15:45:39","date_gmt":"2021-05-25T15:45:39","guid":{"rendered":"http:\/\/ci0283fd7d40002458"},"modified":"2025-10-02T10:07:30","modified_gmt":"2025-10-02T15:07:30","slug":"musk-saylor-announce-bitcoin-mining-council","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/musk-saylor-announce-bitcoin-mining-council","title":{"rendered":"Elon Musk, Michael Saylor Announce Bitcoin Mining Council"},"content":{"rendered":"
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Influential CEOs Elon Musk and Michael Saylor have announced that they held a closed meeting with Bitcoin mining firms based in North America that plan to launch a group called the Bitcoin Mining Council which will provide transparency around the types of energy used in the practice and propel it toward more renewable sources.<\/p>\n

\u201cYesterday I was pleased to host a meeting between Elon Musk and the leading Bitcoin miners in North America,\u201d tweeted<\/a> Saylor, CEO of software intelligence firm MicroStrategy and a strong proponent of Bitcoin. \u201cThe miners have agreed to form the Bitcoin Mining Council to promote energy usage transparency and accelerate sustainability initiatives worldwide.\u201d<\/p>\n

Saylor added that executives from Argo Blockchain<\/a>, Blockap, Core Scientific<\/a>, Galaxy Digital<\/a>, Hive Blockchain, Hut 8 Mining<\/a>, Marathon Digital Holdings<\/a> and Riot Blockchain<\/a> were in attendance and agreed to form a group that would standardize energy reporting; pursue environmental, social and corporate governance (ESG) goals; and grow the marketplace.<\/p>\n

\u201cSpoke with North American Bitcoin miners,\u201d Musk tweeted<\/a> shortly before. \u201cThey committed to publish current and planned renewable usage and to ask miners [worldwide] to do so. Potentially promising.\u201d <\/p>\n

Musk reignited an old debate about Bitcoin\u2019s energy consumption earlier this month when he announced that<\/a> his electric vehicle company Tesla would no longer accept bitcoin payments over concerns \u201cabout rapidly increasing use of fossil fuels for Bitcoin mining and transactions.\u201d However, many in the space believe that Bitcoin is inevitably propelling the energy grid to more renewable sources and point out the fact that its carbon emissions pale in comparison to many other industries\u2019 own<\/a>.<\/p>\n

The decision by Saylor and Musk to hold a closed-door meeting between themselves and an elite group of mining industry leaders reminded many in the space of the infamous New York Agreement<\/a> forged under similar conditions during Bitcoin\u2019s 2017 SegWit debate<\/a>. <\/p>\n

\u201cThe bitcoin mining industry has no obligation to appease Elon Musk and other hysterical hypocrites,\u201d as Great American Mining\u2019s Marty Bent put it<\/a>. \u201cBitcoiners should seek objective truth and reject faulty framing from which these hyperical hypocrites want to debate.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Elon Musk and Michael Saylor attended a private meeting with North American bitcoin miners to propel renewable energy use.<\/p>\n","protected":false},"author":2705,"featured_media":4479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[189,603,969,185],"class_list":{"0":"post-16355","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bitcoin-mining","9":"tag-elon-musk","10":"tag-energy-consumption","11":"tag-michael-saylor"},"author_data":{"id":2705,"name":"Peter Chawaga","nicename":"peter-chawaga","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/peterc-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/miners.png","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/16355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2705"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=16355"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/16355\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/4479"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=16355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=16355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=16355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}