Michael Saylor: Bitcoin is far less energy intensive than internet giants like Google

According to reports, Michael Saylor published a lengthy article on his website, sharing some views on Bitcoin mining and the environment. He said that about $4-5 billion in electricity is used to power and secure the $420 billion Bitcoin network today, with the output valued at 100 times the cost of energy input. This makes Bitcoin far less energy intensive than Google, Netflix, or Facebook, and 1-2 orders of magnitude less energy intensive than traditional 20th-century industries such as aviation, logistics, retail, hospitality, and agriculture. He also mentioned that 99.92% of the world’s carbon emissions are due to industrial energy uses other than Bitcoin mining. Therefore, bitcoin mining is neither a problem nor a solution to reducing carbon emissions.