Michael Saylor Defends Surveillance Mining

MicroStrategy's founder, Michael Saylor, has responded to US Senator Elizabeth Warren's comments about an article in The New York Times (NYT) that raised concerns about Bitcoin mining.

The article accused the cryptocurrency mining industry of having an "insatiable appetite" for electricity consumption, contributing to the rise in tariffs, receiving unjustified payouts for power outages, and using energy sources with a carbon footprint.

Warren cited data from the article, claiming that Bitcoin miners were driving up energy bills for millions of American households and producing atmospheric pollution equivalent to 3.5 million gasoline-powered cars. She called for the Department of Energy and the Environmental Protection Agency to regulate the carbon emissions generated by Bitcoin miners.

In response, Saylor argued that cryptocurrency mining did not result in increased tariffs or environmental pollution. He claimed that these data centers used excess energy that would otherwise be wasted and played a crucial role in maintaining the world's most secure computer network.
The article has been criticized by Riot Platforms, which was featured as the largest public miner. Riot called it "full of distortions and outright lies" and accused the authors of ignoring previously provided data and publishing deliberately false and misleading information.

It's worth noting that Riot and MicroStrategy became two of the eight founders of the Bitcoin Mining Council in 2021. The Council focuses on promoting green mining practices.