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Bitcoin Mining Council (BMC) makes its first appearance, "Elon Musk has no role"

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Bitcoin Mining Council (BMC) makes its first appearance, "Elon Musk has no role"

The energy consumption issue of Bitcoin has always been questioned by various parties. At the end of May, Microstrategy CEO Michael Saylor and Tesla CEO Elon Musk had discussions with North American Bitcoin miners to form the Bitcoin Mining Council (BMC). The BMC made its debut on Thursday, but notably absent were Musk and representatives from Tesla.

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(This article is authorized to be reprinted from Horizon Next Sumari News, original article here)

When introducing BMC on the website, it is presented in a Q&A format, and the last Q&A specifically addresses Elon Musk's role:

Q: Did Elon Musk get involved in BMC? What is his role?

A: He does not have any role in BMC. His involvement level is participating in educational conference calls with a group of North American companies to discuss Bitcoin mining issues.

Prior to this, Musk had raised questions about Bitcoin mining issues, so it is believed that this meeting was initiated by Michael Saylor as a peace offering, mediating to convene Musk and North American miners for a discussion.

Michael Saylor stated in a tweet:

"The Bitcoin Mining Council is a voluntary and open forum of Bitcoin miners dedicated to maintaining the Bitcoin network and its core principles. We promote transparency, share best practices, educate the public on the benefits of Bitcoin and mining. Join us."

During a hearing of the Senate Banking Subcommittee on Wednesday, Senator Elizabeth Warren of the Democratic Party in Massachusetts vehemently criticized the energy issues of Bitcoin, calling cryptocurrency "an environmental disaster."

Iceland has been using geothermal mining, and the President of El Salvador is also preparing to develop the geothermal advantage of having a large number of volcanoes in the country for green Bitcoin efforts.

According to Decrypt's analysis, BMC may not play a significant role in addressing the current criticisms from various sectors, and even supporters of Bitcoin question whether the organization's centralized control violates the spirit of decentralization. However, BMC emphasizes that it will not impose energy standards on its members, will not tell anyone what to do, and certainly will not grow teeth. On the contrary, for research and education, they hope to encourage members to share their energy structures and consumption data because BMC firmly believes that just by doing so, it is enough to reshape public opinion on Bitcoin's environmental impact.

Or, at least that's what Elon Musk might think," the report concludes.