Power Plant Decides Mining Bitcoin Is More Profitable Than Selling Electricity

Re:Power Plant Decides Mining Bitcoin Is More Profitable Tha... by scotty79 on Monday July 12, 2021 @12:32PM (#27812035)

Energy sector value will get coupled to crypto. It will eventually be one industry. Crypto will become the way for energy producers to capitalize on excess renewable energy.

We don't have storage so it's not enough to get to 100% renewables. We need to get to 1000% production so off peak production will fullfill all our needs. And they need to have a way to get paid for the excess.

Price of energy will be dictated by price of bitcoin, and government will subsidize energy sale to residential consumers so they can afford energy. Commercial ventures will pass the additional energy cost to consumer in prices of goods.

It will all land at equilibrium where mining is only profitable when done with excess energy.

[ Parent | on HN ]

Re:Power Plant Decides Mining Bitcoin Is More Profitable Tha... by cestith on Monday July 12, 2021 @02:39PM (#27813554)

I'm not sure if your analysis is correct about the outcome, but it is a brilliant look at one way forward. Something else that excess energy could be used for is recycling aluminum, possibly for large-scale reissue of aluminum-air batteries. In any case, combining some sort of production to the excess may be far easier than grid-level storage and I hope some people in the right positions listen to you about that.

[ Parent | on HN ]