On Monday evening, May 24, Bitcoin price jumped another 5% making a move peste 38,000 de dolari after Elon Musk announced that he is currently in talks with North American Bitcoin miners.
Meeting Focused On Sustainable Cryptocurrency Mining Initiatives
Bitcoin is once again approaching $40,000 after Tesla CEO Elon Musk tweeted that he was in active talks with bitcoin miners about the digital currency’s long-term viability. The meeting resulted in a newly-formed Bitcoin Mining Council, focused on promoting the adoption of sustainable cryptocurrency mining initiatives.
„Am vorbit cu mineri nord-americani de Bitcoin. Ei s-au angajat să publice utilizarea actuală și planificată a surselor regenerabile de energie și să solicite minerilor WW să facă acest lucru. Potențial promițător ” scris Musk într-un tweet publicat luni. La anunț, prețul bitcoin a sărit de la 37,940 USD la 39,405 USD.
Simultaneously, and in what appeared to be a coordinated effort, Michael Saylor, CEO of MicroStrategy, the largest corporate holder of bitcoin (Tesla is second), revealed he had hosted a meeting between Elon Musk and executives from major bitcoin miners in North America, including Argo Blockchain, Blockcap, Core Scientific, Galaxy Digital, and HIVE Blockch.
„Noul înființat Bitcoin Mining Council este următorul pas logic în promovarea unei schimbări sectoriale către energia regenerabilă”, a declarat Peter Wall, directorul executiv al Argo Blockchain, într-o declarație scrisă către Forbes. Wall scrie că „așteaptă cu nerăbdare să se alăture lui Michael Saylor și altor lideri mineri din America de Nord pentru a lucra pentru a asigura viitorul unei industrii care trebuie să îmbunătățească în mod colectiv practicile miniere durabile și să ia în serios preocupările ESG”.
Other mining companies have also confimed their involvement in the mining council. Marathon Digital Holdings și Hut 8 Minerit have confirmed their participation and the group’s ambitions via tweets.
Since the news, almost all of the other major cryptocurrencies are trading higher. Ethereum’s price has risen more than 13% to $2,550.62 in the last 24 hours, while dogecoin has seen its price rise more than 7% to 34 cents a coin.
Articol asociat | Analysts Expect Move to $20,000 High as Bitcoin Holds Key Supports
Bitcoin Is Facing A Changing Landscape
The announcement comes as the world’s attention turns to cryptocurrency mining operations. Apart from a sharper emphasis on bitcoin mining’s environmental effects, the industry is also facing a tightening crackdown by Chinese authorities on bitcoin mining and trading. According to research published in the peer-reviewed journal Nature Communications, these factors have the potential to significantly disrupt the distribution and operations of the bitcoin mining landscape, where China accounted for more than 75% of total processing power on the network as of April 2020. China’s crypto mining hegemony is largely attributed to cheaper electricity prices and large undeveloped lands for pool construction.
Bitcoin mining requires vast amounts of energy. As a result, bitcoin has a carbon footprint comparable to that of New Zealand, producing 36.95 megatons of CO2 annually, according to Digiconomist.
Articol asociat | Analysts Expect Ethereum to Surge to $445 as Buy-Side Demand Builds
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