Elon Musk has no place among the ‘green’ bitcoin miners

The Bitcoin Mining Council (BMC), an organization of Bitcoin miners, has begun work. This was announced by Michael Saylor, the head of the Nasdaq-listed company MicroStrategy.

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

According to Saylor, the organization is open to all industry participants who wish to share energy-use and hash-rate data for research and educational purposes.

Membership of the BMC is free. During the first year of operation, all expenses related to the organization’s activities will be borne by its founders, including Argo Blockchain, Marathon Digital Holdings, Galaxy Digital, MicroStrategy, and others.

The group will transfer excess funding to Bitcoin developers.

North American miners decided to form the BMC after meeting Elon Musk, at which the industry’s impact on the environment was discussed. According to the project’s site, the Tesla founder does not play any role in the organization. His involvement was limited to attending the May teleconference.

Earlier fintech entrepreneur Ragnar Liftrasir called the BMC a ‘a centralized point of contact’ for authorities.

The group stressed that it does not seek to change Bitcoin’s decentralized character or its fundamental principles. All BMC members are independent players. The organization does not plan to impose energy standards on its members.

Marathon Digital Holdings is planning to build a ‘green’ data center for Bitcoin mining in Texas.

In May 2021, BIT Mining Limited announced the construction in the same state of a facility with a capacity of 57.2 MW, of which 85% would be generated using clean and low-carbon electricity.

In the same month, Argo Blockchain acquired two ‘green’ mining centers in the Canadian province of Quebec.