Bitcoin Mining Council launches

Green Bitcoin

Boy, that was fast! The Bitcoin Mining Council has gone live, launching its own website that details its members and the mission statement of the organization.

Interestingly, while Michael Saylor has got a founding member status, Elon Musk has been sidelined. The site states that the Tesla CEO has no role in the council and its future direction. And this is interesting, considering his activity was key to its establishment.

But then again, Musk has been under the radar for his role in the crypto space lately.

The Bitcoin Mining Council was born out of worries regarding the energy consumption of the world’s most popular cryptocurrency. As presented in its mission statement, the organization plans to tackle the task of addressing Bitcoin energy worries.

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

To achieve this, individual members will need to provide accurate energy numbers. Miners and mining companies are traditionally reluctant to share these details in the public, but hopefully that changes from here on.

The council took shape last month when Michael Saylor hosted a meeting of a group of miners in North America with the objective to point Bitcoin mining in a cleaner and greener direction. That agenda seems to have been set aside.

A closer look at the website shows that the council has clearly left behind the green push that led to its creation.

“Bitcoin’s energy usage is a feature, not a bug, and provides tremendous network security. By providing a voluntary disclosure forum, miners can decide to share their energy sources, in hopes of promoting transparency.”

The BMC originated as a closed organization with 9 members, including MicroStrategy, but they are now allowing any member to join.

As for Musk, the site declares that the billionaire has no role at the council, and the extent of his involvement was joining an educational call with a group of North American companies to discuss Bitcoin mining.

Michael Saylor, however, is one of the key members of the BMC, both as a facilitator and Bitcoin supporter.

Let’s see what this leads to.


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