Bitcoin Mining Council debuts as energy backlash increases - Article bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Bitcoin mining council makes debut as energy backlash increases - Article bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
By Vildana HajricBloomberg
The Bitcoin Mining Council held its formal premiere on Thursday amid growing controversy over the amount of energy used in cryptocurrencies.
“Bitcoin Mining Council is a voluntary and open forum of Bitcoin miners committed to the network and its core principles,” wrote Michael Saylor, CEO of MicroStrategy Inc., who helped form the association on Twitter. He added, “Join us,” along with an emoji of prayer hands.
Saylor, as buying Bitcoin has become the business strategy of the company’s software manufacturer, sought to allay concerns about energy use, citing reasons why Elon Musk, CEO of Tesla Inc., stopped accepting Bitcoin as a payment for the company’s cars. Later, Musk expressed his support for the group.