Bitcoin mining incentivizes renewable build outs? Wow.
https://www.cnbc.com/2022/04/08/tesla-block-blockstream-to-mine-bitcoin-off-solar-power-in-texas.html
"“You get this perfect overlap with both sun quality and wind speed in West Texas,” said Shaun Connell, executive vice president of power at Houston-based tech company Lancium.
But a lot of that wind and solar power is concentrated in remote parts of the state. With no financial incentive, there’s little reason to build out renewable infrastructure to harness this energy.
Enter bitcoin miners. When these energy buyers co-locate with renewables, it creates a financial incentive for buildout and improves the core economics of renewable power production, which has been fraught with volatility.
Miners provide demand to these semi-stranded assets and make renewables in Texas economically viable, according to Castle Island Venture’s Nic Carter."
Edwin wangombe
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153 w
A great initiative from Bitcoin miners to our planet
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Peter Kamau
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153 w
This is a groundbreaking project in the crypto mining business.Heavy power required for mining Bitcoin has always been a contentious issue and has by far been responsible for accelerating the climate crisis.
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153 w
A great initiative from Bitcoin miners to our planet
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153 w
This is a groundbreaking project in the crypto mining business.Heavy power required for mining Bitcoin has always been a contentious issue and has by far been responsible for accelerating the climate crisis.