Re:Crypto Is Mostly Over. Its Carbon Emissions Are Not
by lowkey on Saturday March 25, 2023 @04:33PM
(#35307009)
Here is an example from the Guardian explaining how the contracts are designed between Bitcoin mining companies and Texas power companies.
It describes exactly the scenario I described where miners negotiate long-term contracts at low electricity rates in exchange for miners agreeing to turn off on short notice during periods of high demand.
As a result, energy companies are able to justify investing in highly variable wind power, knowing that they have long-term commitments for this wind power even during periods of low demand.
The wind often blows hardest at night when there isn’t sufficient demand to justify the investment otherwise.
https://www.theguardian.com/technology/2021/aug/17/bitcoin-c...
It consumes them.
Show me a real project which actually had a energy net positive and don't show me all those garbage green washing papers from Bitcoin companies which do not proof any of this.