Bitcoin Mining Council (BMC) is an ‘open forum’ of miners, with a mandate of promoting transparency, good practices, and spreading awareness about Bitcoin and mining the cryptocurrency. The end game is to try and mitigate the impact of mining on the environment by promoting the use of renewable energy.
Elon Musk, who had announced the formation of BMC along with MicroStrategy CEO Michael Saylor in May, does not find a seat at the table.
“Elon Musk has no role at the BMC. The extent of his involvement was joining an educational call with a group of North American companies to discuss Bitcoin mining,” said BMC in a statement.
The council consists of business intelligence provider MicroStrategy, investment management firm Galaxy Digital, blockchain mining company Argo, technology firm Hive, and mining company Riot.