Nvidia CEO Calls Bitcoin a Method of Energy Storage
- Jensen Huang believes that bitcoin allows “energy transfer”.
- According to the CEO of Nvidia, it is a kind of energy transfer from one point of the world to another.
- The analyst estimated that the world loses more than $20 billion of unused energy every year.
Nvidia CEO Jensen Huang said that bitcoin allows storing excess energy in the form of currency. According to him, it is a kind of energy transfer from one point in the world to another.
Analyst Shanaka Anslem Perera estimated that in 2024 alone, Texas had to “throw away” 8 terawatt hours (TWh) of wind and solar energy. In Brazil, the figure exceeded 28 TWh in eight months. Overall, the electric grid loses more than $20 billion of “clean” energy each year.
He added that bitcoin mining consumes about 211 TWh per year. Of that, more than half — 52.4% — is provided by renewable and nuclear sources. That is why miners often place equipment near stale energy capacity, turning energy into digital value that is transferred globally, the expert explained.
According to him, for the first time in the history of mankind, energy has become portable.
Recall, in April 2025, we reported that Pakistan is using surplus electricity for bitcoin mining.
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