Bitcoin Mining Council Launches Mission, Calls Members

Originally founded by influential CEOs Michael Saylor and Elon Musk, the Bitcoin Mining Council has been officially launched and is seeking members. The Bitcoin Mining Council (BMC), made up of a group of bitcoin miners from around the world, has been officially launched and is now open for membership applications. The board's website is live, sharing details on its mandate, what it will do, and the roles influential CEOs Elon Musk and Michael Saylor will play. According to the BMC website, “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 about Bitcoin and the benefits of Bitcoin mining.” Although BMC was originally established in a closed meeting, it has reportedly been moved to a more open framework. According to the council's website, any bitcoin miner can participate, provided they agree to share their energy mix and hash rates for "research and educational purposes." In addition, council members are required to uphold the core principles and principles of Bitcoin – that it is "a decentralized, peer-to-peer, censorship-proof, and open-source protocol." The website also claims that Tesla CEO Elon Musk, who attended the group's first meeting, "has no role in BMC." But CEO of software intelligence firm MicroStrategy Michael Saylor, who held the first meeting, "is a key member of BMC, both as a facilitator and a supporter of Bitcoin." The Bitcoin Mining Council, initially a closed group, was met with skepticism from many in the Bitcoin community who thought the council could take an aggressive stance on Bitcoin's energy consumption fueled by Musk's recent concerns. But the group may have realized that Bitcoin's carbon emissions are only a percentage of those of many other industries, because it now "believes that Bitcoin's energy consumption is a feature, not a bug," according to its website.

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