American entrepreneurs: Bitcoin miners spend $4 billion annually on energy consumption

On September 2, according to American entrepreneur Charlie Shrem, bitcoin miners spend $4 billion a year on energy consumption. Some people think that the funds used to mine bitcoin can be used more effectively elsewhere, and others believe that mining costs of this size are bullish for the Bitcoin network. The energy costs for mining are not simply lost, and these funds are effectively transferred to the network through newly mined bitcoins. Second, the large amount of money spent indicates that there are a large number of active miners. Creating blocks using the PoW system indicates that the number of trades and miners is increasing.