“There’s no energy problem. Bitcoin is the energy solution,” said Marty Bent, co-founder of Great American Mining and host of “Tales from the Crypt” podcast, to end the panel on “Reframing Bitcoin’s Energy: ESG, Time Preference and Public Perception” at Consensus 2021. Moderated by Zack Voell, research and content director at Compass Mining, the discussion revolved around the role of carbon credits and the responsibility of bitcoin miners to lead the way in energy innovation.
Bent slammed the “energy hysterics” who criticize bitcoin’s energy consumption while ignoring similar or greater problems with favored industries such as wind turbine construction.
Both Bent and Ethan Vera, CFO of mining pool Luxor, were critical of the practice of buying carbon credits as a way to “green” the bitcoin mining industry.
“Miners are being forced in many cases to change their renewable energy source by carbon offsets to position themselves a…