Rescuing the renewable energy market

• One of the little known facts about Bitcoin mining is how a large percentage of Bitcoin mining is powered by renewable energy.
• Another little known fact is that Bitcoin is actually helping the renewable energy market survive, by being a perfect customer and providing demand while the industry matures.

Renewable energy sources require steady energy demand 24 hours a day, while human energy consumption is cyclical and imbalanced. Bitcoin fixes this.

• One of the issues for renewable energy plants is that they create energy from sun, wind or water at a steady rate of energy production. And because renewable energy is created in a steady consistent stream, the perfect user would use it in a steady consistent stream also.

Humans are not steady, consistent consumers of energy

• Because humans work and go to school during the day, their energy consumption during the day is very low, but their energy consumption in the evenings when they are home is very high.
• This cyclical energy consumption by humans is intensified during extremes of weather like winter cold or summer heat.

• Cryptocurrency miners are perfect consumers for renewable energy sources.

• Paradoxically cryptocurrency mining machines run 24 hours a day and use energy at a steady or consistent level of consumption.
• This makes them the perfect customer for renewaable energy power plants.

Renewable Energy plant location and the places where most energy consumption aoccurs are often geographically separated.

• Renewable energy like hydroelectricity is produced near big rivers, or waterfalls, geothermal is produced near volcanoes, wind energy is produced in wind farms, and solar energy is produced in solar farms which require large open spaces.
• These renewable energy plants are often far from the cities where the greatest energy consumption.
• This means the renewable energy must be transported in power lines at potentially great cost.
• Interestingly large cryptocurrency mining farms are also often located far from large cities due to the need for cheap land, and it is a perfect from a business standpoint to locate them near sources of cheap energy, like hydroelectric plants, geothermal plants, or wind or solar farms.
• In this way cryptocurrency mining farms don't need to burn fossil fuels and reduce their carbon foot print.
• It also means that cryptocurrency mining farms provide customers near the power plant, so the powerplant doesn't have to pay for power lines to send power to the cities until the companies are profitable and can afford to do so.
• This is once again a way that cryptocurrency mining uses renewable energy instead of fossil fuels to reduce it's carbon foot print, and it and helps the envirnment further by helping sustain the renewable energy industry financially, again, by being a better customer.

Cryptocurrency mining is good for the renewable energy industry and good for the envirnment.

• So as you can see cryptocurrency mining operations are actually better for the envirnment then other industries because it is economically advantagous for them to consume renwable energy , and they helpm the envirnment not only by reducing their carbon footprint, but also by providing financial support to the renewable energy industry.
• I guess you could say the cryptocurrency mining is not the envirnmental villian people think it is, but instead a envirnmental hero.
• Imaine that, the truth is different from the popular narrative. When has that ever happened before? :)

Last words

• So the next time some says Bitcoin mining is bad for the environment you may want to engage with them about how this really isn't a completely true.
• In reality the issue is much more complicated then it seems, and bitcoin may actually turn out to be good for the environment.

@shortsegments

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