Many consider that bitcoin (BTC) mining consumes a lot of energy, compared to other cryptocurrencies. This is due to the fact that the Bitcoin (BTC) blockchain uses Proof-of-Work (POW) consensus, a mechanism that would require very energy-intensive mining devices to ensure network security. However, the president of MicroStrategy recently hinted that bitcoin (BTC) consumes less energy than people think.
Michael Saylor defends bitcoin mining
According to MicroStrategy president Michael Saylor, concerns about power consumption for bitcoin mining are propaganda. Lobbyists would use them to encourage developers to abandon Proof-of-Work (PoW) in favor of Proof-of-Stake (PoS). Saylor says the impact of BTC mining on the environment and on energy systems is low. He has just published a note to explain his point of view on the subject.
The president of MicroStrategy explained that “99.92% of the world’s carbon emissions are due to industrial uses of energy other than bitcoin mining. He added that this operation “is neither the problem nor the solution to the challenge of reducing carbon emissions. »
Saylor indicated that bitcoin mining leads to weak carbon emissions, because it uses green energy. In July, the Bitcoin Mining Council (BMC) carried out a survey on the subject. The study found that the mining industry’s energy mix is 59.5% renewable energy. A percentage that continues to increase.
For Michael Saylor, those who say that bitcoin mining is bad for the environment are only trying to denigrate Proof-of-Work (PoW). The operation has rather many advantages on the environmental and energy systems. BTC miners can even contribute to “finance the implementation of the additional energy capacities necessary to responsibly supply the major industrial centers. »
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