Thursday marked the formal debut of the Bitcoin Mining Council as the backlash for the energy used for mining crypto continues to increase.
“The Bitcoin Mining Council is a voluntary and open forum of Bitcoin miners committed to the network and its core principles,” declared Michael Saylor of MicroStrategy, the one who also helped in creating the association. He also tweeted “Join us,” and a praying-hands emoji.
Saylor is a big fan of Bitcoin and has made buying BTC a business strategy and he’s created the group after Tesla declared it won’t accept Bitcoin as a form of payment anymore due to the impact of crypto mining on the environment. Elon Musk, the CEO of Tesla, later joined the group himself, although he has no formal role.
Nine companies represent the founding members of the group, including Galaxy Digital and Blockcap.
One of the latest voices to criticize Bitcoin’s method of creation is former presidential candidate, Senator Elizabeth Warren, who called Bitcoin “an environmental disaster.”
Founder and chairman of Blockcap, Darin Feinstein, declared:
“The idea came together in a fashion which would be more open to understanding the various concerns of the community related to Bitcoin. So the three main goals are transparency, education, and best practices in the industry.”