Bitcoin Outshines Gold in Measuring Energy Value, Say Crypto Execs
CryptoQuant CEO Ki Young Ju has argued that Bitcoin (BTC) serves as the monetary foundation for an artificial intelligence-driven economy. In a recent analysis, he stated that Bitcoin's proof-of-work mechanism can measure energy value with greater precision than traditional commodities like gold.
Ju compared Bitcoin to gold, pointing out that while gold embeds energy, it cannot be measured accurately because it is not digital. He emphasized that 'Energy is money. Bitcoin precisely measures the value of energy,' and went on to say, 'Gold also embeds energy, but it cannot be measured accurately because it is not digital. Bitcoin is the money of an AI-accelerated energy economy.'
The comments from Ju accompanied a detailed analysis by Hashed CEO Simon Kim, who argued that the decade-old 'energy waste' critique of Bitcoin mining is being overtaken by the AI data center buildout. Kim highlighted capital flows as evidence, pointing to Abu Dhabi sovereign wealth fund Mubadala's $437 million allocation to BlackRock's Bitcoin ETF in Q4 2024.
Kim also cited Mubadala's October 2025 co-lead of Crusoe Energy's Series E round, a $1.375 billion investment that pushed the company's valuation above $10 billion. Crusoe subsequently announced plans to divest its Bitcoin mining division to focus entirely on AI infrastructure.
Kim noted that miners bring operational advantages to AI infrastructure buildouts, including their experience securing power capacity, managing high-density thermal loads, and operating flexible demand. He pointed out that Riot Blockchain cut power usage by 98-99% during the 2022 Texas winter storm and received $31.7 million in power credits during an August 2023 heatwave.
The environmental critique of Bitcoin mining is also evolving, Kim argued, citing data showing more than half of Bitcoin mining now uses sustainable sources, exceeding 52%, while coal dependence fell from 36% to under 9%. On methane, he described flare-gas mining as cutting CO2-equivalent emissions by over 60% versus traditional flaring.
Kim framed the distinction between AI and Bitcoin operations in operational terms. 'AI operates where continuous uptime is essential; Bitcoin operates where flexibility has value,' he wrote. He added that 'Governments can print money, but they cannot print energy.'