Fabio Manganiello on Nostr: npub1z7tnl…yp5pk This article from a few months ago was actually quite interesting: ...
npub1z7tnly0fcnxqngel7c3sw34zan0q6spgzl2je4trqmzgk6caj2ascyp5pk (npub1z7t…p5pk) This article from a few months ago was actually quite interesting: https://www.bloomberg.com/news/articles/2023-03-09/solar-power-rising-heat-and-bitcoin-are-wild-cards-for-texas-grid
Long story short, Texas is the State with the highest energy produced via renewables (~40 GW of installed power), but it also has a baseline of ~5.3 GW (with estimated peaks of ~10 GW) of power required just by Bitcoin miners.
Give renewable energy to an oil-digging sociopath cowboy, and they'll waste sun and wind to get even richer in the dumbest possible ways, while they keep digging oil.
The Bloomberg article (which was published in March) actually made an almost prescient forecast. "Given a spike in energy demand due to an upcoming record-breaking summer, and given how much of the energy baseline of the State is sucked up by miners, will Bitcoin collapse the Texan grid?"
The answer, a few months later, is yes - to the point that ERCOT had to pay the miners for turning off their servers, instead of suing them for literally stealing energy when everybody needs it.
Long story short, Texas is the State with the highest energy produced via renewables (~40 GW of installed power), but it also has a baseline of ~5.3 GW (with estimated peaks of ~10 GW) of power required just by Bitcoin miners.
Give renewable energy to an oil-digging sociopath cowboy, and they'll waste sun and wind to get even richer in the dumbest possible ways, while they keep digging oil.
The Bloomberg article (which was published in March) actually made an almost prescient forecast. "Given a spike in energy demand due to an upcoming record-breaking summer, and given how much of the energy baseline of the State is sucked up by miners, will Bitcoin collapse the Texan grid?"
The answer, a few months later, is yes - to the point that ERCOT had to pay the miners for turning off their servers, instead of suing them for literally stealing energy when everybody needs it.