OPINION: Americans should be embracing bitcoin mining and fostering its growth across the nation if they want the U.S. to lead the globe in the next wave of energy and environmental innovation, says Dennis_Porter_.
use combined. Bitcoin miners stand ready to purchase excess energy from wind and solar farms, improving the revenue for renewable generation and preventing taxpayers from subsidizing the generation of energy. A win-win.of renewables by participating in grid-balancing services. Miners not only will consume excess generation from wind and solar generation, but also then reduce their energy consumption neary to zero when ratepayers and other key sectors, like hospitals and businesses, need power.
Miners aren’t just good for renewables. They can also make use of stranded methane, a potent greenhouse gas, that is often uneconomical to bring to market. Methane is frequently vented or flared from landfills, abandoned wells, and oil and gas operations. Because bitcoin miners can operate anywhere, they can turn stranded methane gas into electricity and use it to mine bitcoin, generating both a monetary and environmental benefit. Former Greenpeace activist and researcher Daniel Battenthat it would take “around 50 mid-large sized landfills in the U.S.
These use cases highlight just a few ways bitcoin mining can reduce overall emissions while encouraging the buildout of America’s energy resources. Bitcoin mining should be viewed as an effective tool for a lower emissions future, not a contributing problem.Despite these benefits, many have pressured those in the Bitcoin industry to move to another way to create new blocks of transactions, specifically a mechanism known as.
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