June 15, 2021

Bitcoin Mining Council debuts as critics blast carbon footprint | Business and Economy News


The energy used to mine cryptocurrencies is comparable to that of many developed countries and rivals the emissions from major fossil-fuel users and producers such as airlines and oil-services firms.

By Bloomberg

The Bitcoin Mining Council made its formal debut Thursday amid a growing debate over the amount of energy used in cryptocurrencies.

“The Bitcoin Mining Council is a voluntary and open forum of Bitcoin miners committed to the network and its core principles,” MicroStrategy Inc. Chief Executive Officer Michael Saylor, who helped to form the association, wrote on Twitter. He added, “Join us,” alongside a praying-hands emoji.

Saylor, who has made acquiring Bitcoin a business strategy of the enterprise software maker, sought to quell concern about the energy usage after Tesla Inc. CEO Elon Musk cited it as a reason to stop accepting Bitcoin as payment for the company’s cars. Musk later expressed support for the group.

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