I agree its wrong to constrain management in this way. I believe that all transitions are 'noisy' but it seems like the hope is that long-term BTC mining could provide supplemental income for solar when excess energy is produced. This seems unreasonable now but if you trust the likes of Tony Seba we could soon (a decade) has an immense glut of energy - so much so that it does not even make sense to store it because the excess would never be used. The question then becomes: what do you do with unlimited energy? This is just an optimistic interpretation, however with Tesla potentially having access to a glut of stored energy (utility scale batteries + autobidder), perhaps they have a plan.
I wonder how many other folks are like me and see both sides of this argument. I think there is indeed a reasonable argument to be made that "management should not be constrained in running of the company". As the villain in Total Recall (Arnold version) said to an erring minion, "... you don't think. I don't give you enough information to _think_." (paraphrased from memory). In other words, management has WAY more information than even this relatively well-informed forum to properly shape corporate decisions.
And yet... and yet. There is this mission.
Many folks on this forum over the last roller coaster weeks have said "when in doubt, zoom out". Let's zoom out to civilization-survival level. Does it help civilization to survive if we continue burning fossil fuels to solve the Bitcoin algorithm, created by humans, for humans, an algorithm designed by intent to get computationally more expensive (read: power-hungry) over time? What physical problem (food, transportation, etc.) does that actually help solve for us?
And we cannot honestly say "we'll only use renewables" to run these Bitcoin mines. Sure, maybe 10 years from now, and that's a big maybe. In the interim don't we need every solar panel and battery doing something that solves actual problems (offsetting carbon actually needed for food, transportation, etc.)
Right now, fossil fuel plants are literally having their lives extended (even some unshuttered IIRC) just to run this exact algorithm. I've read articles from reputable sources on this and can likely find the links if other folks haven't seen them. It is happening because there is money to be made.
Tesla has shown with all their undertakings that they advance the mission... some things more indirectly (like Insurance) but they absolutely still push the effort forward. This is admirable and is one of the reasons I think of, and treat, this company and investment like no other in my own decades of life. Their adherence to this mission gives me more hope for the future than almost anything in capitalism writ large right now.
Typing all this out lets me realize that this is my problem with "let the board decide". While I think the "100% divest Bitcoin now" option is pretty unsubtle and a hammer where perhaps a wrench (sorry, spanner) will do, setting a direction to divest Bitcoin over time would NOT go amiss, until such time as a huge renewable energy glut exists (may we please get there!)
YMMV of course, but as I understand it, the use Bitcoin in transactions is causing significant harm right now. I have trouble overlooking that.
www.vivintsolar.com
