Elon Musk Might Reconsider His Stance On Bitcoin Mining, Asks Followers To Help Dogecoin Developers

Tesla Inc TSLA CEO said he had talked with Bitcoin BTC/USD miners. And they might have changed his mind about the environmental impact of bitcoin mining.

What Happened: Earlier today, Elon Musk tweeted about the discussion he had with “North American Bitcoin miners” about the environmental impact cryptocurrency mining is making.

He called the discussion “potentially promising.”

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

The statement follows Tesla's announcement about halting payments in BTC on May 12. The controversial decision opened the debate about energy consumption in the space and affected the markets.

The CEO of SpaceX also asked his followers to help support the Dogecoin DOGE/USD, submitting ideas on GitHub and Reddit.

Someone suggested changing Dogecoin fees based on phases of the moon, which is pretty awesome haha

— Elon Musk (@elonmusk) May 24, 2021

What Else: MicroStrategy Incorporated MSTR CEO Michael Saylor said he hosted the meeting between the North American miners and Musk, adding that executives from multiple crypto compannies also attended the meeting, including Galaxy Digital HoldingsLtd (TSE: GLXY), Argo Blockchain PLC (LON: ARB), Riot Blockchain Inc (NASDAQ: RIOT).

See also: How to Buy Bitcoin (BTC)

Saylor added they decided to create an organization “to standardize energy reporting, pursue industry ESG goals, & educate+grow the marketplace. (sic)”

Execs from @ArgoBlockchain , @blockcap, @Core_Scientific, @GalaxyDigitalHQ, @HiveBlockchain, @hut8mining, @MarathonDH & @RiotBlockchain were present & decided to establish an organization to standardize energy reporting, pursue industry ESG goals, & educate+grow the marketplace.

— Michael Saylor (@michael_saylor) May 24, 2021