Buried in the last two paragraphs of the Guardian’s #Bitcoin article:
“A lot of [bitcoin] mining companies have set up their contracts with renewable energy companies. The argument is that having these mining facilities as clients means that when there’s an oversupply of energy, it may actually make it more profitable for the renewable energy plants,” she said.
This means that these energy companies can mine bitcoin during periods of excess production and oversupply. So instead of letting energy go to waste, money can be made and the wealth can be shared between the cryptocurrency mining facilities and the renewable energy companies with which they have a contract.
—
https://www.theguardian.com/technology/2023/apr/26/bitcoin-mining-climate-crisis-environmental-impact
walker
npub1cj…wrz4u
2023-04-26 14:33:36
Author Public Key
npub1cj8znuztfqkvq89pl8hceph0svvvqk0qay6nydgk9uyq7fhpfsgsqwrz4uPublished at
2023-04-26 14:33:36Event JSON
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"content": "Buried in the last two paragraphs of the Guardian’s #Bitcoin article: \n\n“A lot of [bitcoin] mining companies have set up their contracts with renewable energy companies. The argument is that having these mining facilities as clients means that when there’s an oversupply of energy, it may actually make it more profitable for the renewable energy plants,” she said.\n\nThis means that these energy companies can mine bitcoin during periods of excess production and oversupply. So instead of letting energy go to waste, money can be made and the wealth can be shared between the cryptocurrency mining facilities and the renewable energy companies with which they have a contract.\n—\n\nhttps://www.theguardian.com/technology/2023/apr/26/bitcoin-mining-climate-crisis-environmental-impact ",
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}