With so much interest around how to make Bitcoin more sustainable and less energy intensive, American businessman Michael Saylor hosted a meeting by leading Bitcoin miners which also featured Elon Musk.
London-listed Argo Blockchain joined a whole host of some of the biggest names in North American Bitcoin mining including Riot and Marathon.
Following the meeting, Saylor revealed that that attendees agreed to form the Bitcoin Mining Council that will increase the focus and speed of sustainability initiatives as well as provide total transparency in terms of energy usage.
And the talks went rather well it seems with Elon Musk giving his seal of approval in terms of the direction of travel:
Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.— Elon Musk (@elonmusk) May 24, 2021
Bitcoin set for a boost; Argo to push on with its ESG drive
Argo has been a strong advocate to bring greater sustainability into Bitcoin mining and the early seal of approval will go some way into accelerating their strategy (Argo Blockchain spearheads renewable crypto mining movement).
The respective miner values itself on principles of honesty and transparency with CEO Peter Wall showing his pride and determination to solve the issue as a founding member of the Bitcoin Mining Council:
Great to be part of yesterday’s ground-breaking meeting led by @michaelsaylor with special guest @elonmusk, along with fellow miners. As a founding member of the Bitcoin Mining Council, Argo will push hard for sustainable mining and more transparency.— Peter Wall (@PeterGWall) May 24, 2021
This is the way!#ARB https://t.co/503flx3X8v
This news will also be well received by investors in Bitcoin mining stocks with sustainability concerns voiced recently by Elon Musk putting a damper on the soaring appreciation on the price of Bitcoin.
Shares in Argo Blockchain are currently trading at 118p.