One of the conclusions of the BMC’s ‘Global Bitcoin Mining Data Review’ for Q3 2022 is that global BTC mining consumes only 0.16% of the world’s energy production, as presented in a video streamed on October 18.

According to the BMC founder and former MicroStrategy CEO Michael Saylor:

“Bitcoin uses an inconsequential amount of global energy. The number this quarter is 16 basis points (bps) of the world’s energy or 0.16%.”

Specifically, the total amount of energy utilized worldwide is 165,317 TWh, whereas BTC mining only uses 266 TWh of that energy. In Saylor’s words, one-third of the total global energy use is actually wasted energy, it is not possible to utilize it, with Bitcoin accounting for “just a small fraction” of this.