Michael Saylor: Bitcoin Mining Is The Cleanest, Most Efficient Use Of Energy In The World

“We witnessed the trend continue this quarter with substantial gains in Bitcoin mining energy efficiency and sustainability,” stated Michael Saylor, Founder and CEO of MicroStrategy.
According to fresh statistics, the percentage of the worldwide Bitcoin mining business that uses renewable energy climbed by 1% to 58.5% in the fourth quarter of 2021.

On January 18, the Bitcoin Mining Council (BMC) released the results of its fourth quarter survey.

Three indicators were examined in the survey: the sustainable power mix, technical efficiency, and electricity usage.

The Chase For More Efficient Source Of Energy To Mine Bitcoin

The voluntary study gathered information on sustainable energy from miners. The miners account for more than 46% of the worldwide Bitcoin network. According to the report, 66.1 percent of the Mining Council’s members use a sustainable energy mix to generate power.

The self-reported dataset was then used to calculate the worldwide Bitcoin mining industry’s sustainable energy mix. It was estimated to be at 58.5 percent in Q4, up one percentage point from Q3. The expected technical efficiency of the sector increased by 9% to 19.3 petahash per MW.

Core Scientific and the BMC were co-founded by him. According to Darin Feinstein, the hashrate of BMC participants climbed by 77 percent in Q4.

Those who were claiming that Bitcoin mining consumes more energy then a whole city got an answer by Saylor as he alluded that, ” Bitcoin mining is the cleanest, most efficient use of energy in the world.”

The environmental effects of Bitcoin mining have been hotly debated for some time, and the United States Congress is now preparing to examine the energy impacts of Proof of Work blockchains in detail. At a hearing on Jan. 20, the House Committee on Energy and Commerce announced key witnesses to testify on the energy and environmental impacts of crypto mining.

As pressure from the public, shareholders, and governments grows, bitcoin miners are increasingly exploring for sustainable energy sources.

Nuclear energy is one route that might be pursued further. Vice President of Griid Harry Sudock stated nuclear energy might provide a chance to bring vast volumes of clean, carbon-free energy at the Bitcoin & Beyond Virtual Summit in early November.

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