Michael Saylor Speaks Out About Misinformation On BTC Mining

bitcoin energy utilization btc btc mining michael saylor michael saylor bitcoin microstrategy Sep 21, 2022

A Bitcoinest article stated that the recently resigned CEO of MicroStrategy, Michael Saylor, came to the defense and expressed his censures on the misinformation and propaganda about Bitcoin mining. 

On Twitter, Saylor tagged a recent post ‘Bitcoin mining and the environmental’ sharing his seven high level thoughts on Bitcoin Mining & the Environment. Saylor addresses in these thoughts the following seven: 

 

  • Bitcoin Energy Utilization
  • Bitcoin vs. Other Industries
  • ​​Bitcoin Value Creation & Energy Intensity
  • Bitcoin vs. Other Cryptos
  • Bitcoin & Carbon Emissions
  • Bitcoin & Environmental Benefits
  • Bitcoin & Global Energy

 

Saylor’s argument that Bitcoin mining remains the purest industrial electricity use. He mentioned  that the PoW crypto is recording the fastest improvement rate across the primary industry in energy consumption.

In 2021, China’s regulator banned BTC mining and mining firms had to relocate. The BTC mining and its environmental impact has been under pressure. In the United States, some states have been planning to ban cryptocurrency mining as per the article. 

Saylor, the BTC maximalist, cited the Q2 data from the report that is a publication of the Bitcoin Mining Council comprising 45 firms that claimed to have about 50.5% of the global network. The Global Bitcoin Data Mining Review was released in July and Saylor used it to back up his argument. 

59.5% of BTC mining electricity is from sustainable sources and about 46% YoY improvement in the energy efficiency of the process, according to the data. 

BTC mining is not the major contributor to carbon emissions and about 99.92% of the global carbon emissions are from industrial processes other than BTC mining, Saylor posted. 

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