Bitcoin mining council was launched and Elon Musk is out of it
MicroStrategy CEO Michael Saylor announced on Thursday the Bitcoin Mining Council (BMC), an organization that was created to promote transparency in energy use and accelerate sustainability initiatives around the world. Elon Musk, who last month participated in the meeting that resulted in the formation of the entity, was left out of the movement.
On Twitter, Saylor celebrated the launch of the BMC and called for engagement — according to the official page, “any miner can join the Council.”
“The Bitcoin Mining Council is a voluntary and open forum of Bitcoin miners committed to the network and its core principles. We promote transparency, share best practices, and educate the public on the benefits of #Bitcoin and Bitcoin mining. Join us.” wrote Saylor, who heads the BMC. Currently, he is one of the biggest devotees of bitcoin.
The Bitcoin Mining Council is a voluntary and open forum of Bitcoin miners committed to the network and its core principles. We promote transparency, share best practices, and educate the public on the benefits of #Bitcoin and Bitcoin mining. Join us. 🙏https://t.co/vGPGD3TA5p
— Michael Saylor (@michael_saylor) June 10, 2021
The idea of creating the BMC came from the CEO of MicroStrategy himself, who does not save when investing in bitcoin. In May of this year, Saylor invited major American players in the mining sector to a meeting on the subject. “At that meeting, the group decided that it would be useful to have an open forum,” says the organization’s website, which plans to hold a quarterly meeting to present trends in Bitcoin mining.
BMC also promises to partner with leading researchers to collect data and educate the public about Bitcoin mining and miners’ open source best practices to encourage industry growth. On electricity consumption to maintain bitcoin mining, the BMC says this is a feature, not a bug, and that the activity provides “tremendous network security”.
Unlike weeks ago, when Tesla’s CEO didn’t hesitate to tweet about the cryptocurrency market, Musk appears to have abstained this time. There is no mention of the fact on his Twitter account.
The Bitcoin Mining Council page also made it clear that the businessman has no role in the organization and that he was just one of the movement’s supporters. “Elon Musk has no role at the BMC. His degree of involvement was joining a study group with American companies to discuss bitcoin mining”, explained the entity.