Elon Musk Has No Role in BTC Mining Council

by in Cryptocurrency News

Bitcoin Mining Council Elon Musk

BMC (Bitcoin Mining Council) gave more information about the organization and who are its members.

Related: Elon Musk's New Tweet About BTC Has a Vague Concept

The Chief Executive Officer of the enterprise intelligence firm MicroStrategy, Michael Saylor is a co-founder of the undertaking, who describes it as an open forum for joining Bitcoin miners.

Other co-founders are asset management firm Galaxy Digital, blockchain companies Argo, Hive, and BTC mining firm Riot. They will cover the costs and said that miners from all over the world are welcome to join. A number of North American BTC miners are already a part of the process which goal is to increase transparency, support good experience, and widen education.

On May 24, Tesla CEO Elon Musk tweeted that he met with North American miners and talked about industry issues. The meeting was hosted by Michael Saylor and as stated by Musk, the ideas were pretty promising.

However, Musk doesn't have a part in the council. The foundation says that it is beneficial to be transparent on energy consumption and to share hashrate insights for study and educative means.

BMC is separate from the BTC network and won't interrupt its decentralized concept.

Trending: Finder: Bitcoin could hit $80,000 by 2025

While China shut Bitcoin mining, the USA and Kazakhstan are making progress in the sphere.