Re:Bitcoin Just Hit a New All Time High in US Dollars
by latchkey on Wednesday October 20, 2021 @05:13PM
(#28936719)
> Miners are consuming renewable power that would otherwise displace coal/gas elsewhere on the grid.
This isn't necessarily true. Transporting electricity over distances is expensive. I've seen the pricing.
Coinmint, in upstate NY, has a direct feed from Moses-Saunders damn. The lines were originally built to feed the Alcoa Aluminum smelter that once existed there (and became a superfund site). There isn't anywhere else that the power company can send the power, without a huge investment.
This isn't necessarily true. Transporting electricity over distances is expensive. I've seen the pricing.
Coinmint, in upstate NY, has a direct feed from Moses-Saunders damn. The lines were originally built to feed the Alcoa Aluminum smelter that once existed there (and became a superfund site). There isn't anywhere else that the power company can send the power, without a huge investment.