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Michael Saylor stands up for BTC mining amid criticism

source-logo  crypto.news 18 April 2023 14:51, UTC

Michael Saylor, a co-founder of MicroStrategy, responded to a recent article that discussed the amount of power used for bitcoin mining.

According to Saylor, the fact that bitcoin miners don’t contribute to pollution means that a significant number of American households can save money on their monthly energy costs.

In addition, Saylor thinks that these miners are basically data centers that use unused power that would have been discarded otherwise. They are the driving force behind the world’s most reliable and safest computer network because they provide this essential role.

Saylor defends BTC

Saylor’s tweet responded to U.S. Senator Elizabeth Warren’s resharing of an article from the New York Times.

Warren had previously stated that bitcoin mines are driving up the cost of electricity for millions of U.S. households, rewarding executives in the cryptocurrency industry, and producing the same amount of pollution as an extra 3.5 million automobiles powered by gasoline.

#Bitcoin miners decrease the energy bill for millions of American families and do not create pollution. They are data centers running on excess electricity that would otherwise be wasted, and perform the vital role of powering the most secure computer network in the world.

— Michael Saylor⚡️ (@saylor) April 18, 2023

The article said that rows upon rows of computers were mining bitcoin at a scale comparable to powering nearly 6,500 households at the same time amid the ruins of an old aluminum smelting factory situated an hour outside of Austin, Texas.

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In addition, according to a report published by the New York Times, 34 large-scale bitcoin mining operations are already operating in the United States.

These activities significantly strain the nation’s power system and generate expenditures such as increased monthly energy bills and massive carbon emissions.

The story also disclosed that these activities require a lot of energy. One business, Bitdeer, was paid an average of 175,000 dollars per hour to keep its computers down in Texas during a power system disaster.

Saylor has never hidden her enthusiasm for the cryptocurrency known as bitcoin. The entrepreneur, who is 58 years old, revealed in a recent tweet that he has integrated bitcoin’s Lightning Network into the email account associated with his firm.

Senator Elizabeth Warren has been a driving force behind a number of anti-cryptocurrency and anti-bitcoin proposals that have been presented over the previous year.

Read more: Arizona governor Katie Hobbs vetoes crypto mining and tax bills