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by lowkey
1178 days ago
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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 and solar 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... |
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