As the debate on the impact of digital assets on the environment intensified, the Bitcoin Mining Committee officially unveiled on Thursday.
The Bitcoin Mining Council describes itself as a “voluntary and open forum for Bitcoin miners dedicated to the network and its core principles.”According to the official statement, its mission is to increase transparency, recognize good practices and promote Bitcoin education website.
MicroStrategy CEO Michael Saylor was one of the founding members who posted the call on his Twitter feed on June 10.
The Bitcoin Mining Council is a voluntary and open forum composed of Bitcoin miners dedicated to the network and its core principles.We promote transparency, share best practices, and educate the public about #Bitcoin And Bitcoin mining. join us. https://t.co/vGPGD3TA5p
— Michael Saylor (@michael_saylor) June 10, 2021
The organization is composed of a group of energy-focused Bitcoin mining companies in North America.It was originally proposed by Elon Musk in an article tweet In late May, he has since clarified that he will not hold any position in the Security Council. The website specifically emphasizes this point:
“Elon Musk has no role at BMC. His level of participation is to participate in an educational conference call with a group of North American companies to discuss Bitcoin mining.”
In addition to MicroStrategy, the founding members include investment management company Galaxy Digital, blockchain mining company Argo, blockchain technology company Hive and Bitcoin mining company Riot. The founding members will bear any operating costs and invite any Bitcoin miners from all over the world to join. It pointed out that any miner who joins should:
“I believe that transparency in the use of mining energy is important, and agree to voluntarily share their energy mix and computing power for research and education purposes.”
BMC will hold a quarterly meeting to analyze mining trends, collaborate with industry researchers, collect data for educational purposes, and promote the growth of the BTC mining industry in North America.
The organization confirmed that it is completely independent of the Bitcoin network itself and has no intention of undermining its decentralization.
“We do not seek to change the decentralized nature of Bitcoin or its core principles, but are committed to raising awareness of Bitcoin and Bitcoin mining.”
It added that the committee believes that Bitcoin’s energy use is a feature, not a mistake, and provides tremendous cybersecurity. After Elon Musk commented on it, the energy consumption of global mining operations has recently become the focus of attention. Environmental impact.
Cambridge Bitcoin Electricity Consumption Index (CBECI) estimate Bitcoin’s annual electricity consumption is currently between the Netherlands and the UAE.
After the recent national suppression, China’s dominance of computing power is declining, and More and more in the U.S. Because mining operations can use cheap renewable energy in states such as Texas.
More and more companies are attracted by this abundant renewable energy and start business in the United States.The latest cooperation of mining software companies Luxor and institutional Bitcoin technology and financial services company NYDIG Designed to promote the growth of fast-developing industries.
However, due to geographical reasons, one of the biggest winners is the neighboring country Kazakhstan.