Kazakhstan to restrict crypto miners amid power shortages

Re:Kazakhstan to restrict crypto miners amid power shortages by jmcgeeney on Wednesday November 03, 2021 @03:30PM (#29099224)

If you're honestly looking for the best solution to plentiful, on-demand, cheap electricity, energy storage via batteries is a much better solution. Why burn up excess energy from a wind farm, rather than storing it to be reused during peak periods?

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Re:Kazakhstan to restrict crypto miners amid power shortages by poontang1 on Wednesday November 03, 2021 @03:55PM (#29099499)

Batteries are actually terrible at storing large amount of energy for any significant period of time, otherwise this would be the solution everywhere

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Re:Kazakhstan to restrict crypto miners amid power shortages by jmcgeeney on Wednesday November 03, 2021 @04:56PM (#29100154)

You don't usually need to store energy for a significant period of time, just until the daily peak. Last I checked, the efficiency for charge + discharge was something like 70%, which, in any case, is much better than the 0% energy savings from using that energy to mine crypto.

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Re:Kazakhstan to restrict crypto miners amid power shortages by AlexandrB on Wednesday November 03, 2021 @04:33PM (#29099911)

However bad batteries are at storing energy long-term, I guarantee that bitcoin mining rigs are worse. It's hard for a battery to do worse than losing 100% of "stored" energy immediately to heat.

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