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The CEO of Tesla (TSLA) and SpaceX tweeted Monday evening that he has spoken with bitcoin miners in North America and that they “have committed to publish current and planned renewable energy use “.
Musk added that these miners will ask their global rivals to do so, too, a development he called “potentially promising.”
Bitcoin (XBT) prices have stabilized a bit in recent days and are now hovering around $ 37,000. But that’s a far cry from the record of over $ 60,000 last month. The crackdown on bitcoin in China, where many miners operate, is not helping. The new guidelines from the US Treasury Department on how to tax bitcoin are also not.
Still, Musk’s comments have upped the shares of several large bitcoin mining companies, which have facilities that mine high-end hardware used to solve the complex mathematical puzzles needed to generate new bitcoin.
Riot Blockchain (RIOT), Marathon Digital Holdings (MARA) and Hive Blockchain (HVBTF) all climbed more than 10% on Monday before pulling back a bit on Tuesday morning. Michael Saylor, CEO of software company MicroStrategy (MSTR), which has a significant chunk of bitcoin on its balance sheet and continued to buy more as prices fell, said in a series of tweets on Monday that he had helped to set up the meeting between Musk and the bitcoin miners.
Saylor specifically mentioned Riot, Marathon and Hive, along with five other miners, noting that they “have agreed to form the Bitcoin Mining Council to promote transparency in energy use and accelerate sustainability initiatives in the world. whole world”.
MicroStrategy shares rose 5% on Monday, but shares, like shares in Tesla and bitcoin miners, have largely mirrored movements in bitcoin and other cryptocurrencies in recent times.
MicroStrategy is up more than 20% this year, but is down nearly 65% from its 52-week high, making it one of several top companies whose shares have been skewed l ‘last year.
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