Michael Saylor believes Bitcoin mining’s environmental impacts are just lobbyist propaganda

Michael Saylor, a major Bitcoin proponent and executive chairman of the renowned Business intelligence company MicroStrategy, has issued a letter outlining his views on BTC mining, including how it affects the environment and energy supply.

Saylor said he was compelled to “share the truth” about Bitcoin’s relationship with the environment upon posting the letter on Wednesday due to the “misinformation & propaganda” that has recently been circulating about it.

Given the sheer volume of misinformation & propaganda circulating lately, I thought it important to share the truth regarding #Bitcoin Mining and the Environment.https://t.co/CRkayFwDsj

— Michael Saylor⚡️ (@saylor) September 14, 2022

Bitcoin uses more energy than any other Blockchain network

Notably, the Bitcoin network currently uses more energy than any other blockchain network by a significant margin. This is because the blockchain is secured by its Proof of Work (POW) consensus method, which calls for energy-guzzling computer rigs (miners).

Ethereum is the only network of comparable size that makes use of this method. After The Merge, which just happened, Bitcoin is the only cryptocurrency with a notable energy profile.

He suggested that, contrary to popular belief, BTC mining has little to no negative environmental effects. Instead, he thinks that if it weren’t for the tremendous lobbying efforts of rival groups within the crypto sector, it wouldn’t even be on the public’s radar. He asserted:

“99.92% of carbon emissions in the world are due to industrial uses of energy other than bitcoin mining. Bitcoin mining is neither the problem nor the solution to the challenge of reducing carbon emissions.”

One factor contributing to BTC’s low carbon emissions is the amount of renewable energy it uses. According to a survey conducted by the Bitcoin Mining Council in July, the energy mix for the mining sector is 59.5% green, a number that is steadily increasing. Comparatively, the entire percentage of green energy is around 21.7%.

The chairman also outlined the concrete advantages that Bitcoin mining offers to energy and environmental systems. For instance, miners can be used to generate revenue from stranded methane gas that would otherwise have to be vented out in a method that is much more harmful to the environment. 

Notably, as TheCoinRise reported in July, 14 members of the United States Congress wrote a letter to the Environmental Protection Agency noting PoW mining benefits.