Jen-Hsun Huang explains Bitcoin himself! BTC is an "energy conversion currency" that can be sent anywhere
In an event, NVIDIA CEO Jensen Huang described Bitcoin from an energy perspective, pointing out that mining can convert excess or difficult-to-transport energy into a new type of currency that can be circulated globally.
(Preliminary summary: Huang Renxun came to Taiwan to respond to the Google TPU competition: Huida GPU is more versatile, Nvidia is not afraid of falling behind in the market)
(Background supplement: Huidaâs Q3 earnings report shattered the AI bubble theory, Huang Renxun: Blackwell demand is so good)
NVIDIA Chief Executive Officer Huang Jen-Hsun responded to the question of how Bitcoin was created during a panel discussion, explaining its economic role with a metaphor close to the industrial scene. He pointed out that mining converts "excess energy" into a new form of currency and can bring this value anywhere. He emphasized this point with concise sentences:
Convert excess energy into a form called currency, and you can take this currency wherever you want to go. You take energy out of one place and bring its value around the world.
According to research, the forum Huang Renxun participated in was Bipartisan Policy held on September 27, 2024. At that time, he responded to a question from the audience: "Can excess energy be used to provide computing power for AI?"
Huang Renxun's explanation is that Bitcoin uses surplus energy to create a "new type of currency", and the excess energy can also be used to support data centers and transmit AI to all parts of the world.
This is not the first time that Jen-Hsun Huang has talked about Bitcoin and PoW-type cryptocurrencies. In fact, he has talked about cryptocurrency mining many times in 2021. He is very concerned about this energy > currency conversion industry type. This is of course because NVIDIAâs products are closely related to mining, and also because the late-stage AI computing power and mining are closely linked.
Concepts and Boundaries
It is worth noting that Huang Renxunâs original words emphasized that âit is value that is transformed and transported, not the physical energy itself.â Bitcoin extracts the economic value of energy and moves it around the world in the form of currency; this explains why mining is often understood as "turning energy that is difficult to transport into transportable capital." This article only summarizes the key points of observation based on Huang Renxunâs public statements and does not extend to clean energy policy, environment or cost details.