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Bitcoin Mining Council Goes Live, Elon Musk Is Sidelined – News Bitcoin News


The Bitcoin Mining Council has gone live, launching its website detailing its members and the organization’s mission statement. The council started as a closed organization, but now they are allowing any miner to join. While Michael Saylor enjoys founding member status, the site states that Elon Musk has “no role” on the council.

Bitcoin Mining Council officially launched

The Bitcoin Mining Council, an organization born out of concerns about the energy consumption of bitcoin, launched Officially tomorrow. The Council presents its mission statement on the website. It also outlines a plan to tackle the task of addressing bitcoin energy concerns. The site states:

The mandate of the Bitcoin Mining Council is to promote transparency, share best practices, and educate the public on bitcoin and the benefits of bitcoin mining.

To achieve this, individual members need to be provided with accurate energy numbers. Miners and mining companies have traditionally been reluctant to share these data in the open. The council made its debut last month when Michael Sayer hosted a group meeting of several miners in the US. The purpose of the meeting was to point bitcoin mining in a clean, green direction. However, the Bitcoin Mining Council states that:

Bitcoin’s energy use is a feature, not a bug, and offers tremendous network security. By providing a voluntary disclosure platform, miners can decide to share their energy sources in the hope of promoting transparency.

This focus clearly outweighs the green push that generated it. While the Bitcoin Mining Council has 9 members including Microstrategy, the site states that any miner can join.

Elon Musk pushed aside

The Bitcoin Mining Council states that Michael Sayer is “one of the key members of BMC, both as a facilitator and bitcoin supporter.” However, Elon Musk, whose activity was crucial to its founding, was sidelined. The site declares:

Elon Musk has no role in BMC. His participation was joining an educational call with a group of North American companies to discuss bitcoin mining.

While Elon Musk was not involved in the creation of the organization, he did draw public attention to the energy consumption of bitcoin. Musk called bitcoin’s energy footprint “crazy” in one of his tweets. Tesla, the auto company where Musk is CEO, also stopped Accepting bitcoin as a payment method due to environmental concerns. it was a key A situation that triggered the downtrend in the market. All this prompted the miners to take the subject seriously. In any case, backpedaling seems to go hand in hand with Musk’s latest Twitter divorce with bitcoin.

What do you think about the Bitcoin Mining Council? Tell us in the comments section below.

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