Nic Carter of Castle Island Ventures believes that Tesla CEO Elon Musk might not be the right candidate to take charge of making Bitcoin mining more eco-friendly. Elon Musk Attends Bitcoin Mining Council A group of North American cryptocurrency organizations, bodies, investors recently came together to form the Bitcoin Mining Council to standardize reporting and transparency of energy consumption, shifting towards renewable energy sources and moving towards industry-standard environmental, social, and governance (ESG) goals. The initiative was formed after a discussion among interested parties which included Tesla and SpaceX CEO Elon Musk, who joined the meeting that was hosted by Bitcoin Titan and co-founder of MicroStrategy, Michael Saylor. “Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.” Musk later tweeted. Companies that were part of the meeting attended by Saylor and Musk included Argo Blockchain, Blockcap, Core Scientific, Galaxy Digital, Hive, Hut 8, Marathon Digital Holdings, and Riot Blockchain. The move came weeks after Musk said that Tesla would no longer accept Bitcoin because of its energy-intensive proof-of-transaction process. He also pointed out Bitcoin’s insane energy usage in the mining process especially the use of coal, which has the worst emissions among fossil fuel. Nic Carter Skeptical of Elon Musk Lead in Greener Bitcoin Mining Despite the proposal made to BTC miners on sustainable Bitcoin mining, the partner at Castle Island Ventures, Nic Carter shares that the Bitcoin community is still skeptical of Musk due to the fact that he is involved in selling carbon offsets. Speaking to Bloomberg TV on May 26, Nic Carter shares he doubts whether Elon Musk is the right candidate to “lead the charge for Bitcoin to become more green.” He later adds that the initiative to make Bitcoin mining more eco-friendly is good, whether it comes from Elon Musk or from somebody else.
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