The executive chairman of MicroStrategy, who recently resigned as CEO, wrote a message on Twitter detailing seven of his thoughts on BTC mining and its effects on the environment, according to Cointelegraph.
According to Cointelegraph, Bitcoin maximalist Michael Saylor has criticized the false information on the negative effects of proof-of-work (PoW) mining on the environment, calling it false and based on propaganda.
The executive chairman of MicroStrategy, who recently resigned as CEO, released a message on Twitter detailing seven of his ideas on BTC mining and its effects on the environment, according to Cointelegraph. Saylor disputed the claim that PoW BTC mining is inefficient in terms of energy use. Saylor, who is a member of the Bitcoin mining council, a group of 45 companies that claim to represent 50.5% of the global network, supported his claim that it is a clean industrial use of electricity and is ensuring the improvement of energy usage at a rapid pace across various industries with data from the Q2 Global Bitcoin Data Mining review published in July.
According to the report’s measures, 59.5% of the energy used for bitcoin mining comes from green sources, and energy efficiency has increased by 46% year over year.
According to information provided by Cointelegraph, Saylor went on to assert that the network can be continually improved to guarantee that it uses less energy than tech-based businesses like Google, Netflix, and Facebook, among others.
Accordingly, Bitcoin is 1-2 orders of magnitude less energy-intensive than Google, Netflix, or Facebook, as well as classic 20th-century businesses like aviation, shipping, retail, hospitality, and agriculture, according to Saylor.
Furthermore, Cointelegraph said that Saylor finished by adding that all of the criticism directed at PoW mining may serve to divert attention from any potential advantages that the network may provide. “Bitcoin mining may deliver a clean, prosperous, and contemporary economy that produces hard currency to remote locations in the poor world, connected only by satellite connection,” claims Saylor.
