Conversations surrounding Bitcoin’s sustainability often touch on how much power the network consumes. But the mere fact that its power consumption is a known factor is notable, according to Canadian Bitcoin miner Hut 8’s CEO Jaime Leverton.

“We see our energy use, really, as a feature of proof of work,” she said, referencing the process by which Bitcoin transactions are verified on the latest episode of Decrypt’s gm podcast. 

Critics like Massachusetts Senator Elizabeth Warren have slammed Bitcoin mining as a contributor to the climate crisis. Bitcoin faithful like MicroStrategy CEO Michael Saylor counter with the notion that miners give what would be wasted energy a new purpose, effectively storing it in cyberspace as Bitcoin.

Regardless, the environmental footprint of Bitcoin mining has been well documented, in part because Bitcoin’s hashrate is public. The measure captures the computational force being used across Bitcoin’s network as miners race to solve Bitcoin’s next block by continuously crunching complex calculations.

Leverton said tha

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Author: André Beganski

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