walker on Nostr: Buried in the last two paragraphs of the Guardian’s #Bitcoin article: “A lot of ...
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
“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