The Bitcoin Mining Council kicks off with MicroStrategy’s boss at the helm – but Elon Musk isn’t part of the group

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

The Bitcoin Mining Council on Thursday, bringing together industry leaders to tackle concerns around the digital asset’s environmental impact – but Elon Musk isn’t part of it. Members of the group, by its instigator MicroStrategy CEO Michael Saylor as a “voluntary and open forum” of bitcoin miners, first came together in a high-profile meeting in May to discuss ways around those concerns. Research by Cambridge University bitcoin generation consumes as much electricity each year as countries like Sweden.

The prominent miners involved have pledged to share information on their energy usage, and BMC membership is open to any bitcoin miner that agrees to voluntarily do the same, for the purpose of research and developing best practices. “We promote transparency, share best practices, and educate the public on the benefits of #bitcoin and bitcoin mining,” Saylor . Saylor, whose business-intelligence company is the , has been on a mission to squash criticism of the huge amount of energy used in generating...read more...