Elon Musk Is Not a Member of Bitcoin Mining Council

Elon Musk Is Not a Member of Bitcoin Mining Council

The Bitcoin Mining Council made a discussion with a group of North American Bitcoin companies headed up by Micheal Saylor, CEO of MicroStrategy. The Bitcoin Mining Council made its formal-debut on Thursday, as the debate over the digital asset’s environmental impact heats up.

Among the founding members are investment management firm Galaxy Digital, blockchain mining company Argo, blockchain technology firm Hive, and Bitcoin mining company Riot. The core members will wrap all operating costs and have invited any Bitcoin miner. People can participate from anywhere in the world but they should believe that transparency for mining is important.

Awareness About Bitcoin and Bitcoin Mining

Moreover, the group ensures their partnership with industry researchers and gathers data for educational reasons to analyze mining. Also, they share that this firm has no intentions to change the nature of Bitcoin.

“We don’t seek to change Bitcoin’s decentralized nature or core principles, but rather to raise awareness about Bitcoin and Bitcoin-mining.”

According to the Cambridge Bitcoin Electricity Consumption Index (CBECI), Bitcoin’s annual electricity consumption is currently somewhere between Holland and UAE.

Additionally, more companies are establishing operations in the United States, drawn by the abundance of renewable energy. The latest partnership between mining software company Luxor and institutional Bitcoin technology and financial services firm NYDIG aims to promote growth in the rapidly expanding industry.

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