In response to an article discussing the power consumption of bitcoin mining, Michael Saylor, one of the co-founders of MicroStrategy, stated that bitcoin miners' lack of contribution to pollution could lead to significant cost savings for American households in terms of monthly energy expenses. Saylor further argued that these miners function as data centers and utilize otherwise discarded unused power, making them crucial to the world's most dependable and secure computer network. Thus, he views them as a driving force in providing an essential service.
Michael Saylor's Defense of BTC
Michael Saylor posted a tweet in response to U.S. Senator Elizabeth Warren's share of a New York Times article. Warren had previously voiced concerns about bitcoin mining, stating that it drives up electricity costs for millions of U.S. households, benefits executives in the cryptocurrency industry, and produces pollution equivalent to that of 3.5 million additional gasoline-powered automobiles. The article highlighted rows of computers mining bitcoin on a large scale, comparable to powering nearly 6,500 households simultaneously, in an abandoned aluminum smelting factory located an hour outside of Austin, Texas. Furthermore, a report published by the New York Times revealed that 34 large-scale bitcoin mining operations are already operational in the United States.
These actions put a significant strain on the nation's power grid, resulting in increased monthly energy bills and substantial carbon emissions. The article also revealed that these activities consume a large amount of energy, with one company, Bitdeer, being paid an average of $175,000 per hour to shut down its computers during a power grid crisis in Texas. Michael Saylor, a 58-year-old entrepreneur and bitcoin enthusiast, recently disclosed on Twitter that he has incorporated bitcoin's Lightning Network into his firm's email account. Senator Elizabeth Warren has been a prominent advocate of several anti-cryptocurrency and anti-bitcoin initiatives over the past year.