Bitcoin Mining Council to report renewable energy usage
A new Bitcoin Mining Council has been created to improve the crypto-currency's sustainability, following a meeting of "leading" Bitcoin miners and Elon Musk.
Bitcoin's electricity consumption is currently greater than The Netherlands', according to the Cambridge Bitcoin Electricity Consumption Index.
Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.
According to a tweet by MicroStrategy CEO Michael Saylor, who hosted the meeting of the group and Elon Musk, the council includes "the leading Bitcoin miners in North America".
But research from a group of universities suggested that China accounted for more than 75% of Bitcoin mining as of April 2020. The authors estimated that 40% of China's Bitcoin mines were powered by coal.
It is unregulated, there is no central bank or government in charge of its workings - and some true believers in the crypto-currency are extreme libertarians who hope to see the traditional financial system and much of the infrastructure of the state just melting away.
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