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The BMC survey involved executives from the bitcoin mining industry from around the world but did not mention the names of individuals or companies that participated. The council, which began its work in May 2021, seeks to "shift the narrative" around bitcoin mining and its environmental impact. Elon Musk's critical impact on the environment, and consequently Tesla's decision to stop receiving bitcoin payments, was instrumental in this effort.

The Bitcoin Mining Council (BMC), a MicroStrategy joint venture with Galaxy Digital and other cryptocurrency companies, released its first quarterly survey, revealing that mining efforts may be more sustainable than the investing public believes. The organization did not reveal the names of individuals or companies that participated, but in each entry three questions were asked about:

the amount of electricity used,
the percentage derived from clean energy sources
the hashrate of the "mine" dynamics.
Electricity consumption and bitcoin
According to the report, entitled "The Global Bitcoin Mining Data Review", survey participants currently use electricity with 67% coming from clean energy sources. Based on this, the BMC report makes Bitcoin mining one of the most environmentally sustainable industries in the world.

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According to the report, BTC consumes 0.1% of global electricity generation from clean sources. The total consumption is estimated at 189 TWh.

Saylor (CEO of Microstrategy) and the BMC board were criticized for lacking transparency in the methodology report and who participated.

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