Bitcoin mining council debuts as energy backlash increases

The Bitcoin Mining Council formed to standardise energy reporting, in the face of growing criticism about the industry's energy consumption. — REUTERS

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.