Elon Musk, one of the newsmakers in the crypto world, held a meeting with the leading bitcoin miners. They tried to explain to Mr. Musk that not all the miners used a large amount of electricity. After the conversation, Elon Musk’s mood improved, providing the market with a positive signal.
Earlier, Mr. Musk’s claims about a large amount of electricity used to mine coins had a significant impact on the price of cryptocurrencies.
After a particular tweet posted by Elon Musk, MicroStrategy founder and CEO Michael Saylor organized a closed meeting with the representatives of such companies as Argo, Blockcap, Core Scientific, Galaxy Digital, HIVE, Hut 8, Marathona, and Riot. “Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising,” wrote Musk in his Twitter.
"The miners have agreed to form the Bitcoin Mining Council to promote energy usage transparency & accelerate sustainability initiatives worldwide," Michael Saylor said in a tweet.
However, neither Elon Musk’s good mood nor miners’ promises to save electricity returned bitcoin to its previous peaks. The first cryptocurrency is still losing in value. Notably, several weeks ago, most market participants believed that BTC would recoup its losses. However, now the optimism is fading away.
